Importance
This gives the new grantee the opportunity to receive the results of the document recording and county records for review and verification. After making a payment the grantee will receive all documents delivered in the mail by the USPS. The document recording process can result in mistakes as the process includes many people and can include written, digital and spoken material. Because of the complexity this process can sometimes result in mistakes that can impact the legitimacy of the grantee, taxes and more. It is better to correct all mistakes immediately to avoid bigger problems in the future.
The importance of verifying recording information cannot be overstated. I recommend all my clients to verify all recorded information as quickly as possible.
- Jordan Cooper, Real Estate Lawyer
There is also a wealth of other information that is included in the Property Assessment Profile while all of this information is not official it is important to a homeowner. This information is often what lenders, mortgage brokers and banks will base their initial financing and refinancing offers on. This information can impact your home equity as well as your access to that equity or selling the property. It is important to review this information beforehand so when the time comes to sell or refinance it is based off of the correct information and any mistakes have been corrected.
No appraisal home equity loans, you can get a home equity loan without getting a formal appraisal done on your property. Lenders have options for determining the market value of your home besides using traditional, full appraisals. These can involve the use of data analysis, public records and data compiled on properties. You will receive a copy of this information in your Property Assessment Profile. Full property appraisals are not required by many home equity lenders who rely on other methods for establishing your property value. Lenders often use county assessment records and automated valuation models (AVMs) to find a comparable price for your home. This may allow you to reduce your closing costs for a home equity loan. Which is why it is important to have a copy of this information before hand to verify that it is correct.