The MLS Realist Tax module
Realist is a robust property data service integrated into many Multiple Listing Services (MLS) across the United States. I am a member of the CRMLS and use this module almost daily. Realist aggregates data from public records and other sources to provide comprehensive information about properties. This includes data about current and prior ownership, property characteristics, tax assessments, sales history, and further vital details. As the time implies, it also provides information about property taxes. Users can access tax rates, assessed values, and the amount of tax due. This can be extremely valuable for real estate professionals seeking to understand the total costs associated with a property and for potential buyers interested in estimating the ongoing expenses of property ownership.
Remember that while the Realist tax module is a beneficial tool, the availability and accuracy of data can vary by location due to differences in how local governments report and update their tax records. Users should always cross-verify critical information when possible.
A Title Representative/Title Company
Developing a relationship with a title insurance company can benefit a real estate professional's ability to identify property owners accurately. Title insurance companies have access to extensive public records databases and a deep understanding of the legalities surrounding property ownership. This unique combination makes them an invaluable resource to the real estate industry.
Title insurance companies specialize in confirming property ownership and identifying potential issues affecting a property's title. Beyond who the owner is, these records can include information about title vesting, liens, easements, and other encumbrances. This process involves conducting a thorough search of public records to trace the history of property ownership and determine any outstanding claims.
When a real estate professional partners with a title insurance company, they can access this information swiftly and reliably. The title company can provide a preliminary title report, which includes current ownership information based on the latest public records. This report assures real estate professionals that they deal with the rightful property owner.
Furthermore, through their ongoing relationship with a title company, real estate professionals can stay updated about changes in property ownership. This is especially useful in markets where properties change hands frequently.
In addition, title companies can alert real estate professionals to potential issues with a property's title that could affect its marketability. This includes discovering any liens on the property, which could be crucial for prospective buyers or investors.
In essence, by fostering a relationship with a title insurance company, real estate professionals equip themselves with an additional layer of verification and assurance in property transactions. This helps them serve their clients more effectively, enhancing their reputation and credibility in the highly competitive real estate industry.
A Trip to the County Recorder's Office
The county recorder's office, or its equivalent in some jurisdictions, is the official entity responsible for maintaining public records related to property transactions. These public records, including deeds, mortgages, liens, and other encumbrances, provide a wealth of information about properties within the county, including details about property ownership.
This information is held at the county level because property laws and regulations are largely a matter of local jurisdiction in the United States. In the vast majority of instances, when a property changes hands, a deed stating the property's description and the names of the old and new owners is recorded at the county level. Similarly, when a lien is placed on a property or a mortgage is taken out, these details are also recorded at the county recorder's office.
To find out who owns a property, you can visit the county recorder's office and request to see the property records. Typically, you'll need the property's address or legal description to locate the relevant documents. Some counties also allow you to search by the owner's name. The records show the most recent deed, which should state the current owner's name. Looking at past conveyances can help you reconstruct the chain of title.
In addition to visiting the county recorder's office in person, many counties now offer online access to property records. These online databases can often be searched by various criteria, such as the property address, parcel number, or owner's name. Keep in mind, however, that while online databases are convenient, they may only be as up-to-date or comprehensive as the records available at the county recorder's office.
The county recorder's office is a valuable resource for anyone seeking to determine property ownership. Whether you're a real estate professional, an investor, or a prospective buyer, accessing these public records can provide the information you need to make informed decisions.
While a trip to the record will cost you some time and gas, the county recorder is considered ground truth.
Knock on the Door or Ask Neighbors
While more formal methods, such as consulting public records or partnering with a title insurance company, are typically employed to ascertain property ownership, direct community engagement can also be helpful, especially when digital or official records may be limited or inaccessible. Knocking on the door or asking neighbors helps determine who owns a property.
If you knock on the door, you might meet the owner directly or encounter a tenant who can provide information about the landlord or property management company. In some cases, long-term tenants may have direct contact with the owner and can provide details that can assist your inquiry.
In many residential communities, neighbors have lived alongside each other for years, if not decades, and have a sense of the local property ownership landscape. They might know whether a property is owner-occupied or rented, who the owner is, or how to contact them. Neighbors can also share valuable contextual information about the property, such as any recent renovations, ongoing disputes, or other issues that might not be immediately evident from a public record search.
However, it's essential to approach these conversations with respect and professionalism. Respect individuals' privacy, explain why you're asking about the property, and thank them for any information they share. Remember that as a real estate agent or investor, you're representing yourself and the broader real estate community, and your actions can impact perceptions of our industry as a whole.
Finally, while knocking on the door or asking neighbors can provide helpful leads, it's crucial to corroborate any information received with more official sources, such as public records or the title insurance company. This ensures you work with accurate and verified information in your search.
Private Investigators
Hiring a Private Investigator (PI) is another avenue you can explore when trying to identify the owner of a property. PIs are professionals trained in research, surveillance, and other investigative techniques, and they often have access to databases and resources that the general public might not have access to.
Private investigators subscribe to professional databases that aggregate information from various sources, including public records, credit bureaus, and other entities. These databases compile a massive amount of data about individuals and properties, and PIs can access this information quickly and efficiently.
When hired to determine property ownership, a private investigator would start by searching these databases for the address in question. The PI would look for any records linked to the property, such as deeds, tax records, or utility bills, which could indicate the owner's identity. To confirm the owner's identity, they would also cross-reference this data with other database information, such as phone records or vehicle registrations.
In addition to these database searches, a private investigator may use other techniques to identify the property owner. For example, they might conduct surveillance on the property to see who comes and goes or interview neighbors or other local sources for information.
However, it's important to note that while private investigators can access some information that isn't readily available to the public, they are still bound by laws and regulations regarding privacy and data access. They can't, for example, access confidential financial information or other protected data without a valid legal reason.
Hiring a private investigator can be useful when other methods of identifying a property owner have failed or aren't available. But it's also typically more expensive than public records or other research methods. Therefore, it's a step that a real estate agent or investor would normally consider only after exhausting other options.
Other information available from the public record
Besides just knowing who the owner is, a search could also uncover what encumbrances are on a property. Encumbrances are claims or liens made on a property by a party that isn't the owner. They can significantly impact the value and transferability of the property. Typical forms of encumbrances include mortgages, easements, and property tax liens. Understanding what encumbrances are on a property is fundamental to valuing it correctly and identifying any potential issues that may arise in a real estate transaction.
For instance, the public record will typically indicate who holds the mortgage on a property. This knowledge can benefit investors or buyers interested in distressed properties. By identifying the mortgage lender, one can gain insights into the potential negotiation process or find opportunities for short sales or other investment strategies.
Moreover, the public record often includes information about the amount owed to the lender. This data, coupled with the property's market value, can provide a clearer picture of the property's equity position. Equity, or the difference between the market value of the property and the outstanding balance of all liens, is a vital consideration in many real estate transactions.
