Real Estate Property Report has comprehensive details about your property. It’ll show the current owner, description of the building or the site, it’ll show layouts and improvements to the property.
It is also called a Property Profile report. Would-be buyers, sellers, real estate professionals, and mortgage lenders rely on this report.
What’s in a Real Estate Property Report?
- Legal details of the property
- Current and past property owners
- Layout and design of the physical building
- Improvements to the property
- History of sales and listing activity
- Foreclosure activity
- Private and Public-School Academic Performance Index
- Demographic break down of the neighborhood is included too
- Summary of the crime report
Most of the time a picture of the property could be included in the report.
Details that are helpful
Building Modification is an important section where you can see if any structures around the property are built within specifications by the city.
If you’re in the market to buy a home, details from the report will be very helpful. You can do the research before committing to buying the home.
Examples of things to look out for are additions to the house, current lienholder of the house and for parents, the academic performance index of the school district.
Being meticulous about the additions made to the house is incredibly important. Simple additions to a home or an upgraded basement could be a signal to check real estate reports or property profile if the construction of the said upgrade was permitted by the city.
Let’s use the basement as an example of an unpermitted work. If a homeowner modifies the basement to a home theater room, in theory, he will need to upgrade the electrical systems to accommodate all the new equipment they need to power or add a bar with a running sink.
Since it’ll involve electricals and plumbing, the city will need to inspect the construction of those upgrades and be up-to-code.
If it’s not permitted and the sale goes thru you will be liable for taking down the structure. It could be a powerful point for you to negotiate the price, expressing that you are aware that the structure is not permitted but you are willing to negotiate a lower price.
Public and Private School Ratings
School districts are vital for parents. A complete Real Estate property report will include
The Academic Performance index of a particular school district.
The data will give you details of the teacher to student ratios, academic performance, and growth of schools and even the number of High School graduates.
The higher the number, the better the performance of the school.
Get Proactive
Having the property tools for research gives you the confidence that the property that you are trying to buy is the best decision for your family.
If you’re a seller, having all the comparable properties that have sold in the last 90 days provides you with a better gauge on how to price your home.
If you would like to know more about the report click here, and see how you can take advantage and know more about the neighborhood that you’re eyeing for years.
Demographic data report of the area
Data from this area of the report comes from the U.S. Census Bureau and shows the detailed race, ethnicity, and population counts male it easy to look up data for any block.
Same as how big companies research a specific zip code, the data gives you an overview of the population, household growth, how many families in living in the area and age distribution.
Some reports show median household income.
This is the same report as businesses and real estate developers look for before breaking ground. Therefore, You’ll basically get to know more about the community before you move-in.
Real Estate Property Report advantage
Having the property tools for research gives you the confidence that the property that you are trying to buy is the best decision for your family.
If you’re a seller, having all the comparable properties that have sold in the last 90 days provides you with a better gauge on how to price your home.
If you would like to know more about the real estate property report click here, and see how you can take advantage and know more about the neighborhood that you’re eyeing for years.