In recent years, we’ve worked to enhance the data available to Alberta mortgage brokers in PurView to ensure you’re accessing the most comprehensive owner, property and neighbourhood data. Did you know Alberta’s report features data that isn’t available in other provinces? Assessment information and valuations are key components included in this report. Additionally, these reports feature enhanced title data, estimated values, neighbourhood profile information and much more!
We want to ensure you’re familiar with all of the data points available for properties in Alberta 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 Alberta.
What are the key data points included and why are they important to mortgage brokers?
- Ownership Information: Includes information such as current registered owners names, occupation and their interest in the property. This helps to confirm the correct property owners on the title to provide validation and avoid any disruptions that could delay a deal from closing.
- Sales History: Provides a historical view of property sales to date and indicates non-arms-length transfers to assess if any overly inflated sales have occurred.
- Estimated Value: Helps to determine property value based on a proven and precise AVM model and shows a quick snapshot of relevant neighbourhood property sales details. Checking a property’s value can allow customers to decide if a deal should move forward to the appraisal stage.
- Registered Mortgages: Includes registered mortgages, face value and the owner of all active mortgages. Taking a look at all the details of the mortgages and liens registered on title and when they were registered can enable customers to determine if the balance stated is consistent with the balance it should have been when compared to the registration date and amount. Please note, this section of the report is only accessible if you’ve purchased a Title Certificate document for this property.
- Assessment Property Details: Provides site, interior and exterior structure information for the subject property which allows you to understand structure information as it relates to the property.
- Neighborhood Profile: Depicts an ‘average sales values and growth rate’ chart to understand how the neighbourhood of the subject property evolved over time and how it compares against the similar municipality trends. This section provides additional details into how many sales were made, market shift and average sales amounts to provide a quick indication of how well neighbourhood house prices are trending.
- Comparable Properties: View the subject property and three additional properties to compare and identify information like address, total assessed value, structure information and distance from the subject property.
- …and many more valuable data points!
To get a full picture of what data points are included in the Alberta property report, click here to view a sample.
Additionally, we recently created a training video that walks you through all the sections of a PurView report and shows you a demo of how to purchase a Title Certificate. Watch this video to learn more about how you can leverage the important data points included.
What else is available to me as a mortgage broker in Alberta?
In addition to all of the data points outlined above, when you couple PurView’s authoritative land registry data with a Title Certificate you’ll have access to the full picture of a property and borrower.
Title Certificates are delivered as an electronic report that can help you easily exercise due diligence by gaining greater insight into a property’s details such as confirming ownership information, identifying legal interests and encumbrances registered against title and acquires the registration number for any charges on title. Purchasing a Title Certificate is the perfect way to confirm that the information listed is correct and discloses any impediments that could prevent the transaction from closing.