We understand that in your business, you require the most authoritative property data at your fingertips. Through PurView, we offer a PurView Property Report with Title Search data to help mortgage brokers and agents in British Columbia to thoroughly conduct their business.
From the Land Title and Survey Authority (LTSA) of British Columbia, a Title Search is an official report for title data in the province. These reports allow you to dig deeper into property details and the history of ownership. It is a critical tool that can be leveraged by mortgage agents and brokers to gain a fulsome understanding of a property, and critical details that can be beneficial to know at the start of the application process.
Here are 4 ways mortgage agents and brokers in British Columbia can leverage Title Searches in their business:
Mitigate and identify fraud
A Title Search offers insight into registered owners names, occupation and their interest in the property. This information is critical when validating who the correct property owner is, and will help you identify any potential red flags on the property or in an application. By validating the owner information and names on title, you can mitigate the risk of any fraudulent behaviour.
Find out if there’s a registered mortgage on title
Through a Title Search, you will have the ability to see if there are any registered mortgages on title, and who the owner is on any active mortgages on the property. This is beneficial knowledge to your business, which could help you identify any undischarged mortgages that may delay a closing.
Identify liens or encumbrances on a property
A Title Search will list any registered encumbrances on the property, such as mortgages, liens, easements, or other legal claims. This information is critical to mortgage brokers and agents, as they can use this to assess the history of the property and better support and advise their clients ahead of the application process.
Build stronger relationships with your client
With access to the property insight offered through Title Searches, you can conduct your business accordingly and complete thorough due diligence for your clients. By going the extra step to offer them full insight into any potential risks on the property, and even insight into the complete history, it will show your clients how committed you are to offering exceptional service.
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A Title Search can be purchased through PurView by selecting the option to purchase Title Search when requesting a PurView Property Report. The Title Search data will then be directly incorporated into the property report. For more insight into how to purchase, click here.
If you have any further questions about Title Search documents available for British Columbia properties, please do not hesitate to contact us at 1.855.787.8439 or via email at purview@teranet.ca.
