How to Do a Property Search
Doing a property search means doing your homework, but you can find out a wealth of information about a property. A property search can turn up valuable data that you can use writing a purchase contract.
For example, I rarely write a purchase contract without digging into the history of the property and conducting a variety of property searches. I do not rely on MLS data alone, and neither should you, because it could affect how much you pay to buy a home.
Property Searches Show Matters of Public Record
What kind of information can you find out from a property search? For example, if you knew the sellers were getting a divorce, you might not offer full price. A divorce when selling situation is a red flag that the sellers might take less because they are motivated. Maybe you would like to know how many times the home has been withdrawn from the market and put back as a new listing? You can find out how long the seller has owned the home, how much is owed (to determine a short sale), whether improvements have been made without a permit and whether the home is in foreclosure, among other pertinent facts.Property Search in Public Records
Every city has a place where the public can go to search for information on property. Property records are maintained at either the county courthouse, county recorder, city hall or another city or county department. Many public offices are staffed by knowledgeable personnel ready to help you find property deeds and encumbrances.You can check federal court records to find out if a seller has filed for bankruptcy or go through county court records to see if a seller is involved in litigation.
However, there are easier ways to find information.
Once you find the owner of record, if you don't have an address or the person has moved, you can order reports online to find that missing person. These companies charge a fee. You can also search at your public library.
Property Search on the Internet
Many counties maintain records online. Search for property tax records, where you can find out:
- Name of the owner
- Tax ID number or parcel number
- Amount of present taxes and whether the taxes are paid.
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