Are you buying an investment property, or you already own one? Looking into the ownership history is always a good idea. You might discover that it is a historic property or that it is associated with interesting owners or stories that would attract renters. Additionally, you will find out if it has been a profitable investment and how to value a rental property for tenants.
The Ownership History of Property
If you are about to invest in commercial real estate in Oklahoma, be aware of the fundamentals, including the ownership history of property. Here are some tips to help you.
How to Find the History of a Property
Fortunately, learning how to find the history of a property is not complicated, thanks to public records.
● US Reality Records – This search is going to have more information than most reality websites. They do charge for the service, but it will save a great deal of time and effort.
● Public Records Online Directory – This option provides information from state websites, including Tax Assessors’ and Recorders.
● Title Search – Always perform this search before buying an investment property. You can check for any liens and make sure that all permits are up-to-date.
How to Find the History of Occupants
Your initial search should note the owners, but it might leave out family members or tenants. For example, an apartment building where Brad Pitt lived would not have him on the records. US Census records will help you discover in your building ever hosted anyone of historical interest. You should also check:
● Historical Societies
● Historical Texts
While looking into the history of your property takes quite a bit of research, your efforts might pay off well. If you have a historic property, you could qualify for the historic rehabilitation tax credit. Additionally, historical interest will help you establish how to value a rental property.
If you are ready to invest in commercial real estate in Oklahoma, always make sure you do your
due diligence before purchasing. If you have any questions about historical properties or commercial real estate in Oklahoma, please contact us. Our team is here to help you.