Online Property Search

Online Property Search

No matter what type of property you purchase, due diligence- otherwise known as research- is very important.  An online property search could be the first part of that research.  Other ways to research are: asking others their knowledge of the property/neighborhood/local vicinity, asking the Real Estate Agent (if the property is listed), and always follow that gut feeling!  Since the Internet is such an influential instrument, here is a list of some pros and cons of conducting an online property search:

Pros:

1. Can look up public records through the local county website. (Some counties require a login and password for one-day use for a small fee; some do not function this way.  Any questions?  Contact your local government for more details.)
2. Can look at pictures of interior and exterior without going to property. Any Real Estate Agent from specific market can send with details from the Multiple Listing Service or best known as MLS.  Otherwise, Zillow or Trulia has baseline information.
3. Online search can be done any time of the day, any day of the week from any place with a solid Internet connection that will allow the websites to be viewed.
4. Helps to weed out what is or not wanted (style, price range, location).
5. Saves on phone calls/emails/texts to Real Estate Agent or homeowner.
6. Can look up the neighborhood (schools, crime rate, local businesses, commute to work/school, etc.).
7. Could view a property and then put in an offer sight unseen.

Cons:

• Website may not have accurate information, such as the number of bedrooms. The tax assessor may not know about the family room that was converted into a bedroom.
• Zillow or Trulia doesn’t always have the most accurate numbers, especially the approximate value of the property. Some properties do not have pictures available.
• After looking at online pictures, will need to physically see a property by appointment to get the best fit.
• Must go to the property to have a feel of the neighborhood. (Does a neighbor also have a house for sale by owner- FSBO- that could be a better fit?)
• Still may need to call/email/text Real Estate Agent to clarify questions.
• Pictures may be outdated. May not have pictures of every room/view and doesn’t show all details.
• Properties have the tendency to sell fast, so looking online and giving time to think may result in someone else purchasing property.

When a potential client contacts us about a property, Reel Property Solutions, LLC does a lot of research to determine if this is a good fit or to pass along to someone in our network.  Almost always, the first type of research is the online property search.  Luckily for Reel Property Solutions, LLC, the public records in Olmsted County are easy to access and have been very accurate.  Zillow’s picture information has been precise as well.  From there, the determination is made if that property is worth viewing.  When viewing a listed property, Reel Property Solutions, LLC calls upon the real estate agent from our team.  This way, there is also access to information from the MLS along with other key details that other websites will not have.

The criteria for viewing a property: is there a distressed situation?  Extensive repairs, late payments, homeowner going through divorce, probate, vacant property, and a variety of other reasons will constitute Reel Property Solutions, LLC to physically view the property.  If a seller contacts us with reasons of: I don’t like the location where I’m living, I fixed up and now selling myself, property is overpriced but seller won’t negotiate a reasonable offer, or the location is not ideal (ex: in a flood plain), then Reel Property Solutions, LLC will decline the next steps.  With our education and training through Fortune Builders, Reel Property Solutions, LLC also has countless resources for advice when doing any research, including an online property search.  Fortune Builders Field Experts can assist with questions regarding if the property is something to make an offer, help clarify questions about wording in documents, and assist with other insightful thoughts.  Also, other ways to network with other Fortune Builders students is to purchase a property together.  The Reel Property Solutions, LLC website also has properties featured for sale, for rent, or coming soon.  This is another way to do an online property search since stats are listed.

If there are any questions, always contact us at info@reelpropertysolutionsllc.com or 507-218-8788.