Have you ever wondered who owned a certain property-say, that cute little house with a beautiful garden or a plot of land with great potential? Well, it is natural, and this urge to know that piece of information originates from considerations of purchase, investment, and even just personal curiosity. This discussion touches on ways of searching for the owner of a property in both their traditional and digitized versions.
There can be many reasons for wanting to find a property owner. Perhaps you've seen an abandoned building that you think could be renovated. Or you may have found your "dream home" and would like to see if the owner will sell. Sometimes it's vacant land that may interest you enough to want to find an owner to see if you can build in a perfect location.
To real estate professionals dealing in commercial properties, locating owners is often the beginning of anything from property acquisition and leasing to land acquisition for investment or portfolio diversification. Even insurance companies offering building cover find their way into property ownership records. Whatever your objective may be, knowing how to locate a property owner is one skill worth possessing.
The ways of finding a property owner can be different, each with its own set of advantages and disadvantages. Here is a detailed explanation of the most effective methods:
Local Tax Assessor's Office: This is a major starting point in gaining access to a property. Local tax assessor's offices keep property taxes, which may also be found on the website of the office. You can often search for the address of a property to get the owner's name and the amount of the owner's property tax. These records may even indicate if there is a lien on the property. Generally, this is free; however, there is usually a fee for physical documents.
County Recorder/Clerk's Office: The county clerk or recorder's office is a great resource. This is where records about property deeds, land records, and much more are kept. You will not only be able to find who the current owner is, but you will also find some history of the property, such as previous owners.
Online Property Records Search: These days, since everything is going digital, most county and city governments have been able to make searching for property ownership online accessible. This can be a convenient way to conduct your search from your home or office. However, keep in mind that the availability and detail of information can vary by region. Also, be aware that there might be a delay between a property sale and the update of online records. Websites such as Public Records Now, Instant Checkmate, and FamilySearch can also provide property information, although accuracy may vary.
Real Estate Websites: Commercial real estate websites are far more than ownership databases. Many of these sites will include ownership information, property type, market trends, recent sales prices, current rents, and property taxes. Access to many of these services requires a subscription. Remember that information is not always 100 percent accurate and may not be current.
Real Estate Agents: Real estate agents have access to a tremendous amount of information through public records and the Multiple Listing Service. They can help establish if a property is for sale or has recently been put on the market. If you're looking to purchase a property, agents will guide you through the entire process. Many agents specialize in commercial property and have access to specialized databases.
Title Companies: Title companies are pros at researching property deeds and conducting title searches. Not only can they find an owner for you, but they can also confirm whether there are any liens or other problems associated with the property. A title search is usually performed as part of the home buying process, but you can use them to determine some preliminary information. Keep in mind that title searches are not free. Fees range from $75 to more than $400, depending on the location and the complexity of the search.
Real Estate Attorney: If all else fails, a real estate attorney may have some other ideas for finding the property owner. An attorney can also handle the initial contact with the property owner for you.
Knock on the Door or Ask Neighbors: Sometimes, the easiest approach is to simply knock on the door or ask neighbors. If comfortable, knocking on the door may allow you to speak with the current resident, who may be the owner or have contact information for the owner. You can also ask neighbors for insights about the property and the owner's contact details. However, in most cases, this can be rather unexpected, or even invasive, so it would be best to be respectful and friendly.
Professional Land Surveyors: In more complicated circumstances, like a boundary dispute or a development project, the services of a professional land surveyor may be invaluable. They are able to provide exact measurements, detailed maps of property boundaries, and confirmation of current ownership based on legal documents and public records. While by no means free, frequently costing upwards of $500, the service does offer essential legal protection.
Online GIS Analytics Platforms: Online geographic information systems, such as AlphaMap, allow for real estate and ownership to be visualized geographically. These platforms have easy access to property data and help you understand the location of the property.
Commercial Real Estate Database: Robust property data software and owner information is at the heart of any solid CRE professional. Sites include: CoStar, Reonomy and PropertyShark for advanced countrywide property owner lookup, visual cues and GPS-enabled mobile apps. These systems are usually subscription-based and require training:
Online Property Owner Search Platforms: While free resources like county assessors may be insufficient, platforms like Whitepages, Spokeo, and Zillow offer access to public records and verification of ownership and property history. However, be aware of potential privacy concerns and limited coverage.
AFX Research represents a more modern approach to land ownership information. The platform allows you to search by address, property ID, or even the name of the owner. In fact, the results are instantaneous, with deep insight into the current ownership information, characteristics of the property, and even due diligence information such as flood plains. It also boasts of national coverage, hence making access between different states relatively easy.
Once you have found an owner, your next step is to persuade the owner to sell. There is no assurance that they will be interested, but you can always make your offer outstanding. Getting pre-approved for a mortgage proves that you are a serious buyer; this is because it shows the owner that you can qualify for a home loan. Also, putting on earnest money shows that you are serious about moving forward. Earnest money deposits tend to range between 1-3% of the sale price.
It is worth noting that a property owner search should be done with consideration of legal and ethical issues. While property ownership is a matter of public record, it is nonetheless sensitive. Data protection laws may well apply, particularly where personal information is involved. Consent from the property owner is required for marketing purposes. Ensure that you only use this information for legitimate reasons and take measures to protect sensitive data.
The owner of the property can be traced using anything from traditional public records to sophisticated online tools. It is sometimes not easy, but the effort could be well worth your time in acquiring a property. You'll find that using these services in an ethical way while being mindful of legal constraints can help you effectively uncover who owns your desired property and take the next steps toward your real estate venture.