Property Report – For Public Access

By definition, a Sydney property report is a legal document detailing the location of a property and the significant improvements done on it. It also includes the plan or illustration of the physical features of the property. Aside from these comprehensive details, it includes statements also detailing previous surveyors’ opinions and concerns.

The report identifies the last recorded owner, the legal description and the recorded deed of trust or mortgage presented as public record. Since it is an official document, it can be relied on by the buyer, seller, the lender and the municipality as an accurate representation of the property.

Contents

Within the report is the assessment showing the value of the property. This is used as reference like the taxes where the basis as the assessed value of the property and not the market value. (The market value is the present value of the property.)   

The other details also include the ownership and how it is acquired. The grantees are the present owners on record and the grantors are the people where the grantee acquired the property from. Also included are the dates in their declarations.

Importance

This information is used and is referred to in lending, selling and taxation of the property among others. The document has the property’s full tax history, the list of possible liens on the owner and the property, including some other pertinent info on mortgage, if any.

The importance of the document is its accurate representation of its actual state. This is usually used as reference whether you are the buyer or the lender. The main reason is that it carries the comprehensive report of the surveyor regarding its actual physical status and other important details.

It is also used as reference for financial use (lending, selling, taxation, and others) since the report contains a detailed tax history, a list of liens and other mortgage information and history.

Ownership

Knowing the history of the owners is important if you are considering renting or buying the property. The knowledge of the legal ownership of the property can help you avoid landlord scams, and knowing whether or not someone has the rights to sell the property or rent it out.

For the prospective owner, it also pays to find out more than just the names of the previous owners, who they really were, what have they done and how they sued to property before. This can serve as advance protection should any untoward information might be not to their benefit.

At the very least, learning the reasons why the previous owners sold or had moved out of the property can give you various insights. This is mostly on the value of the property and the quality of life in the neighborhood as well.

Added information

The information in the report had been abridged from public real estate records. It is basically the essentials related to ownership and property characteristics.

The purpose on the basic Sydney property report is to provide instant online access to the most affordable real estate information. The advantage is that it covers all available real estate properties.