- February 8, 2020
- Posted by: admin
- Categories: Posts, Property Records, Real Estate Post
How property records and real estate information are collected by U.S. Title Records.
We collect the documents from a variety of sources, including digital databases and title plants. Please see the disclaimers and our terms of use as we do not issue title policies. Our clients, many of whom are seasoned real estate investors, use this service for research purposes and to purchase property at auction. Still, unless you purchase a title policy to close a transaction, the information cannot be guaranteed.
Most of our auction clients purchase the home buyer’s package if they are not familiar with the neighborhood/area. The clients who know the area well will generally purchase the Full Property/Owner Lien report.” Also, please let us know when you are purchasing a property for auction purposes because we can include a profile report for the previous owner at no extra charge. We do this because sometimes personal liens pop up after the auction and then the new owner is sometimes responsible for those amounts.
Property records and real estate information are typically collected through various methods involving government agencies, private companies, and public databases. These records are crucial for real estate transactions, property valuation, taxation, and legal purposes. Here’s how property records and real estate information are generally collected:
1. Government Agencies and Public Records
Property records are largely created and maintained by local government agencies. The primary sources include:
- County Assessor’s Office: The county assessor or property tax office is responsible for valuing property for tax purposes. They collect data on property size, location, type, and use, which is recorded in property tax assessments.
- County Recorder’s Office: This office records all legal documents related to property, including deeds, mortgages, liens, and title transfers. These documents are often publicly accessible, providing a history of property ownership, encumbrances, and changes in ownership.
- Local Zoning and Planning Departments: These departments gather information related to land use, zoning classifications, and planning permits. This data helps determine what can be built on a property and how land can be used.
- Building Permits: Local building or construction permit offices maintain records on permits issued for renovations, new constructions, or demolitions. These records can provide insights into property improvements and changes over time.
- Tax Records: Property tax information is often collected by municipal or county governments. These records typically contain the assessed value of a property, tax rates, and payment history.
2. Real Estate Transactions
When properties are bought and sold, several steps generate real estate data:
- Title Companies and Real Estate Agents: Title companies track ownership history and assist with title searches, ensuring the property is free from legal claims (such as liens). Real estate agents may also record sale details, including transaction price, buyer, and seller information.
- MLS (Multiple Listing Service): Real estate agents use the MLS to list properties for sale. The MLS tracks property data like listing price, square footage, number of bedrooms, and property condition. It also records sale prices, dates of sale, and other transaction details once the property is sold.
- Sales Deeds: When a property is sold, the deed of sale is recorded at the local recorder’s office, providing the buyer and seller’s names, sale price, date of transfer, and any conditions attached to the sale.
3. Commercial Data Providers
Many companies aggregate and sell real estate data, including:
- Real Estate Platforms: Websites like Zillow, Redfin, Realtor.com, and others gather property details from public records, MLS listings, and user-submitted information. They provide accessible databases for consumers to research property prices, sales trends, and historical data.
- Property Data Aggregators: Companies like CoreLogic and ATTOM Data Solutions specialize in compiling and selling property data. These data providers offer comprehensive information such as ownership history, property values, foreclosure data, and market trends.
- Census Data and Demographics: Governments and private organizations collect demographic data that includes information about the neighborhood and surrounding areas. This data is often used for market analysis and investment decisions.
4. Surveys and Assessments
- Property Surveys: Surveyors provide property boundary information, which is critical for accurate real estate records. These surveys may also document any easements, encroachments, or disputes related to property boundaries.
- Appraisers: Professional appraisers evaluate property values for taxation, insurance, or loan purposes. Their reports include detailed assessments of property condition, market comparables, and neighborhood analysis.
5. Technological and Geographic Tools
- Geographic Information Systems (GIS): Local governments and private companies use GIS tools to map property boundaries, zoning areas, and other property-related data. GIS provides a visual layer to property records, allowing for geographic analysis and easier access to location-specific information.
- Satellite and Aerial Imagery: Remote sensing tools such as satellite imagery and drones are used to gather information about land use, construction projects, and changes in property development. These images can be integrated into property records and GIS databases for more accurate, up-to-date information.
6. Public Data Access
- Many jurisdictions provide online portals where individuals can search property records and real estate data. This can include property tax information, ownership history, transaction records, zoning laws, and building permits.
Key Points:
- Local Governments: County assessors, recorders, and planning departments are the primary sources of property data.
- Real Estate Transactions: Sales deeds, title records, and MLS data are essential for collecting real estate information.
- Private Data Providers: Commercial services and platforms aggregate and distribute real estate data.
- Technology: GIS and satellite imagery enhance the accuracy and accessibility of property data.
These records serve various purposes including taxation, legal disputes, property valuation, and planning, and they are generally accessible to the public, though some information may be restricted for privacy or security reasons.