We are often asked to explain the difference between Ontario and other provincial PurView for Mortgage Broker property reports. The simple answer is that there aren’t many differences between Ontario and British Columbia property reports. In fact, the British Columbia reports include some data points that aren’t currently available for Ontario properties.
We want to ensure you’re familiar with all of the data points available for properties in British Columbia so you can use these reports to the fullest. In this blog we’ll review some of the key features of the report and what else is available to you in PurView as a mortgage broker in British Columbia.
What are the key data points I need to know about?
- Ownership information: Includes full name of owners and interest in the property.*
- Title checks: Allows you to quickly check for activity on title, such as active mortgages, liens and power of sale.*
- Sales history: Review the full sales history of the property, including sales dates and amounts.
- Estimated value: Determine property value based on a proven and precise AVM.
- Registered mortgages: Identify registered mortgages and the date of issue.*
- Assessment property details: Evaluate site information, interior structure information and exterior structure information to give you a more fulsome picture of the property.
- Comparable properties: View the subject property and three additional comparable properties to identify address, consideration value, registration date and distance from subject property.
- …and much more!
*Only available when a Title Search is purchased.
To get a full understanding of what is included in the British Columbia property report when you purchase a Title Search: Check out the Sample British Columbia Property Report
Additionally, we recently created a training video that walks you through all the sections of a PurView property report and how you can leverage the data in these reports a part of your due diligence and to create exceptional customer experiences.
What else is available to me as a mortgage broker in British Columbia?
In addition to all of the data sections mentioned above, you also have access to purchase Title Searches and have the ability to incorporate this data directly into your PurView property reports.
A Title Search is the official report of record for a title to land in British Columbia as maintained by the Land Title and Survey Authority of British Columbia (LTSA). Title Searches are beneficial to mortgage brokers as they detail the history of ownership, along with the registration and discharges of any mortgages, liens or other types of encumbrances that can be helpful to know at the start of the application process.
If you have any further questions about data available for British Columbia properties, please do not hesitate to contact us at 1.855.787.8439 or via email at purview@teranet.ca.
