Quick Answer
Early property research identifies ownership information, property characteristics, transfer history, potential warning signs, and questions that require deeper investigation before you make an offer or commit funds to a transaction.
Making an offer on an investment property without doing preliminary research is like writing a check without knowing the balance in your account. Early research can reveal issues that affect your offer price, your strategy, and your decision to proceed.
Research Can Affect Your Offer
If preliminary research reveals an old mortgage that was never released, a tax delinquency, a judgment against a prior owner, or a restriction that limits your intended use, you may want to adjust your offer or include contingencies. Research before you offer gives you leverage and information.
Property DNA
1st Option Title offers free Property DNA Reports as an informational property-research tool. A Property DNA Report is not a title search, title commitment, title examination, title insurance policy, survey, appraisal, inspection, or legal opinion. It is an informational research product designed to provide early insights into a property. It does not replace the formal title examination performed as part of the closing process. Always obtain a professional title search and commitment when you proceed with a transaction.