Properties Verification Services
Properties Verification Services
Checking a property before buying is not easy and takes quite a while, even for an experienced lawyer.
Recently, however, many electronic services have appeared, promising to conduct an online check of a property and prepare for a deal without “paperwork” within a few days.
Is it possible?
How Online Services Check Real Estate
In the modern world, everything goes along the path of automation and the transition to online.
The sphere of checking real estate for “legal purity” also did not stand aside.
Online services for little money offer a legal opinion on an object of interest (both housing and commercial real estate).
Moreover, Tenant background check prices vary from rubles per check. What is the difference one may ask
Conditionally, real estate verification services can be divided into several groups:
- preliminary automatic check and
- almost complete semi-automatic check
In fact, these services simply order extracts from the TSCI regarding an apartment, data on owners from official sources and issue beautifully designed conclusions, where information from the TSCI is colorfully presented and a set of banal recommendations is given.
“Find out if the seller is married find out who is registered in the apartment and the like”
Efficacy of Automatic Verification
Preliminary Automatic Check
Online services from preliminary automatic check do not go beyond the analysis of primary data.
Such a check only creates the illusion of security and is able to identify very problematic objects, for example, on which arrests have been imposed.
But if there are arrests, the deal will not work anyway: you will receive a refusal to register the deal with Rosreestr.
Some services may indicate that the object has often changed hands, and that it is worth paying attention to.
Almost Complete Semi-Automatic Check
what are the distinctive features of this group?
The service will require you to download the seller’s documents (sale and purchase agreement, receipts for payment for real estate, consent of the spouses to the transaction, passports, and so on);
Services from this group have gone a little further. They understand that without obtaining the title documents from the sellers, a real check cannot be carried out.
Since these are scanned copies of documents or their photographs, no machine will be able to read such a text and draw the correct conclusion based on the information contained in it.
Only people can do this. Consequently, such services cannot be fully automatic.
What Can An Almost Complete Semi Automatic Check Give
Such verification can help in 95% of transactions that are not problematic.
That is, in cases where the transactions will not be challenged and the buyer will not be deprived of both real estate and money.
Buying an apartment after checking with such a semi-automatic service, you can test your luck: you will get into the prosperous 95% or the risky 5%.
Why Wont The Semi Automatic Check Reveal The Problem Apartment
As a rule, unscrupulous sellers conduct several technical transactions to “bury” the problem and sell on behalf of the nominee owner who has nothing to lose.
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