Why you Might Need a Property Search

Investing in property is a huge undertaking, whether you’re a first time buyer or a corporate firm. It’s imperative to have a full understanding of the property being purchased beforehand in order to avoid a lot of time and money being wasted further down the line if a property isn’t viable.

There are a number of services on offer for buyers in the market, which can provide valuable advice on purchasing property and make sure the right decisions are made from the beginning. You can get a company such as Infotrack to perform a title search for you, saving you money and time.

Property searches are one of the most important things you can do

Once you have made the decision to pursue buying a property or properties, you might want to consider conducting a property search or having a company perform a title search before going any further.

This is a hugely important aspect of property investment as it allows the buyer access to the public records of the property to determine the property’s legal ownership and discover what claims, if any, there are against the property.

Outstanding claims on a property can be an unwanted obstacle and time consuming and costly to resolve, so if there are any questions surrounding the property, it is better to know sooner rather than later. The property search will reveal this information so the buyer has full knowledge of what they may be taking on and can make an informed decision from that point.

Who will perform a title search for my business or me?

Typically the title search is carried out by a title company or an attorney, who will research the vested owner, the liens or other judgments on the property, loans against the property and any taxes due for the property. They will then provide the results.

What information can come out in a property search?

Other useful information can be provided by having a company perform a title search, such as a Pre-Sale Report to review internal details of a property or a Telco Cable search, which will identify any major network cables lying underneath the property. Damage to cables on a property can cost thousands of dollars to fix and an alarming 1 in 10 properties are currently at risk today. These reports can offer the buyer an indication of any problems they may face with the property for future building.

Conducting a property search is incredibly valuable and getting a third party to do it on your behalf is going to give you peace of mind and save time and money too. As they are trained to source the right information efficiently and quickly. They can easily determine the relevant council for the property, match the property details against the records and compile everything into a digestible document with all the relevant information required.

The property search report will then be available to all relevant parties, allowing real estates, banks and the buyer’s full clarification on the inherent risks that may be involved with a particular property purchase going through.

If you are considering buying a property and would like some more information on the types of property searches available, then InfoTrack can help. We offer a fully comprehensive range of services and can perform a title search or company search for all your property needs. This will allow you get a full picture of the property, whether commercial or residential, before making a decision on whether to purchase. Knowing all the facts before you purchase a property is something that everyone needs to know as it can give you peace of mind that you’re not going to be saddled with any problems.

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