As a mortgage broker, you require tools and resources to conduct your business effectively and efficiently for your clients. Having PurView in your toolbox arms you with important property information that you require to make informed business decisions to ensure you are offering exceptional service to your clients and remaining competitive in the market.
What’s included in the PurView Property Report?
A PurView Property Report provides you with the critical property information you need on any property. This report includes the following:
- Ownership information, which includes the full name(s) of owner(s) for verification.
- Title check, which allows you to check for activity on title, such as active mortgages, liens and power of sale.
- Sales history, which provides a full sales history of the property, including sales dates and amounts.
- An estimated property amount, which is a determined value based on Teranet’s AVM.
- Assessment property details, to help you further evaluate site information, interior structure information and exterior structure information to give you a more fulsome picture of the property.
- Comparable properties, to allow you to view three comparable properties to identify address, consideration value, registration date and distance from subject property.
View an example of the PurView Property Report
Additionally, if you require a deeper dive into the property information offered through the PurView Property Report, PurView offers the ability to pull a Title Search (additional charges + tax apply).
Furthering your due diligence with a Title Search
A Title Search is an official report for title data in the province, deriving from the Land Title and Survey Authority (LTSA) of British Columbia. These reports allow you to dig deeper into property details and the history of ownership. It is a critical tool that can help you gain further insight into any red flags identified on the PurView Property Report, or to verify ownership data and historical property information.
With a Title Search, you have access to the following information:
- Ownership information – This will include insight into the current registered owners’ names, occupation and their interest in the property. This can be of benefit to mortgage brokers, as ownership information can uncover correct property owner details to avoid any fraudulent activity throughout the applicant process.
- Title checks – This information is important in determining if there are liens, encumbrances or a registered mortgage on the property. You can use this information to determine if the registered mortgage balance stated is consistent with the balance it should have been when compared to the registration date and amount.
- Title information – This offers you the ability to view data from title including the title identification number, parcel status and the full legal description of the property.
A Title Search can be an essential tool when helping to mitigate any fraudulent activity, or help you complete your thorough due diligence when working with a new property or new clients.
As a mortgage broker in British Columbia, a PurView subscription can help you maximize your business and build strong relationships with you clients. By leveraging the PurView Property Report, coupled with a Title Search, you can provide your clients with confidence and assurance throughout the transaction process.
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.
