Too many people ignore the need to do a search on the property they are about to buy and it’s not really because they can’t afford it but because they are just plain unaware of how important it is and the major heartache it saves a person from.
Imagine paying for a property only to discover it can never be yours? Can you wrap your head around the emotional trauma you may go through knowing you have thrown away your hard-earned and you are still not a property owner?
So why the fuss about a search report on a property? The whole fuss about it is because it reveals to you all the transactional stories on the property you are about to buy. It could be one, two or more stories but you can be sure they are stories that could either make you the property owner of the property you are prospecting or save you from a life-long heartache.
You may be wondering, what possible stories can a search reveal? It can reveal:
1. That a property has been mortgaged or used as a collateral
2. That there is a charge on a property
3. That there is a caution placed on the property
4. That there is a lien on the property
5. That the property has been leased for a number of years
6. That the property has been sold
7. That the property has been gifted
8. That the property is free from all of the above
So what do you think? Is the whole fuss on the search report justified or not. I sure do, if it can reveal all these kinds of information on a property and save me from possible major heartache, or don’t you?