Gone are the days when the only way to obtain property records information was to take a trip to the county clerk’s office.
Thanks to technology, building ownership and property sales records can now be accessed with a few clicks of a button.
Read on to learn how to skip the trip to the county clerk and search for property sales history and other details easily online.
Commercial Property Sales Records
Real estate brokers, investors, and service providers can benefit greatly from reviewing the sales history of properties they are interested in.
Commercial property sales records can help you:
- Understand the current value of a commercial property
- Find properties that are likely to sell in the near future
- Find new property owners
- Identify red flags in a property’s transaction history
- Find real estate comps
Capitalizing on these benefits used to be a lot more difficult and time-consuming with the traditional methods of researching sales records sources.
New tech-powered platforms such as Reonomy and local public records online databases have made the search process quicker, more efficient, and more flexible in meeting specific requirements.
Taking advantage of these tools can transform the way you bring in new business and help you close more deals.
In the sections below, we will review the process of finding commercial property sales records using Reonomy and a few public records search platforms, as well as discuss the value of the information they can deliver.
Property Intelligence vs. Public Records
To harness the benefits of property ownership and sales history data, you can use Reonomy property intelligence to learn in-depth property-level insights on properties in any U.S. market.
While public record lookups need to be conducted through the individual online search platform of the county where the property is located, Reonomy allows you to search any market in the nation in one place and use a variety of property, owner, and financial filters (together or separately).
You can analyze properties based on their location, asset type, sales history, debt history, and much more.
Analyzing Property Sales with Property Intelligence
Property Sales Record Search by Location
The first way to identify properties with Reonomy is to search by location. You can run a location search by state, city, county, zip code, street name, or by an exact address.
To do so, in Reonomy’s web platform, visit the “Location” tab, add the geographical boundaries you’d like to search within, and your list of results will update accordingly.
Property Sales Record Search by Asset Type
If you are looking to identify properties of a specific asset type, you can do so by visiting the “Asset Type” tab of Reonomy’s web platform.
Here, you can add filters for a variety of asset types, and can search with varying levels of granularity.
For example, you can search “All Vacant Land,” or you can search “Recreational Vacant Land.”
Property Sales Record Search by Transaction History
You can also pair your location and asset type filters with very specific sales history characteristics to find your properties of interest.
Filters allow you to search for properties based on their most recent sale date, most recent sale price, whether that property was a part of a multi-parcel sale, and more.
As you add each round of filters, your list of results will continue to update.
Using “Sales” filters allows you to hone in on properties and property owners with very specific traits, allowing you to glean different informational insights based on your needs (more on that later).
Viewing Property Sales Records on Reonomy
Once you have conducted your search and identified a property of interest, you can easily dive in and view the details.
In your list view of results, simply click into the profile page of a property. There, you can visit the “Sales” tab to see its transactional history.
You will see a list of transactions along with the corresponding details.
The available information includes the recorded transaction date, the buyer, seller, sale price, execution date, and much more.
In just a few clicks, Reonomy lets you search for, find, and analyze the sales records of commercial properties in any market in the nation.
Searching Public Property Records Online
Another way to find the sales records of an individual property is to visit the web search portal of the local county or district clerk’s office where that property is located.
While more prominent examples include ACRIS and HCAD, there are a number of online search platforms for counties, cities, and states all across the country.
You can search Google with “[your county] property sales records” to find the URL of the local search platform, if there is one available.
While most public property records databases feature similar sales history and ownership information, the user interfaces of each can differ quite a bit.
Let’s look at some specific examples to better illustrate the search process when using public records databases.
NJ Property Sales Records
You can use New Jersey’s “Open Public Records Search System” to search for commercial and residential properties in any county in the state based on a number of different qualifications.
First, you need to select the county you are interested in and then the district; in this case district refers to the city or township that a property lies within.
The most efficient option on this site is to run an “Advanced Search.” You can add filters for county, district, city, sale date, zone, class (asset type), sale price, year built, and much more.
Once you run your search, you will be given a list of property deeds that have traits matching the criteria you specified originally.
From there, you can click the “More Info” link next to any individual deed, and you will be taken to a page that includes further details, including dates, parties involved, and other relevant building-level information.
Broward County Property Sales Records
Most public property records websites are managed by the county clerk’s office. We will use Broward County’s search platform as our next example.
The “Official Records Search” portal on broward.org allows you to search through all commercial and residential deeds in Broward County, Florida. You can run a records search by name, document type, sale amount, date recorded, parcel ID, and more.
Once you run your search and generate a list of results, you can click into any individual record to see a bit more detail, as well as an image of the actual document.
NYC Property Sales Records
Lastly, we will look at an example of how to search property records on a city-level.
ACRIS is the property information database for all of New York City, and is perhaps one of the more user-friendly public records portals.
Using ACRIS, you can search by “Document Type.” Within the search page, you can choose from a few different options related to property deeds. You can then select a borough or county and date range, and run your search.
You will be given a list of results that fit the filters you applied, along with options to click further and see more details on the deed, or see an image of the document.
Deed detail pages include the parties involved, parcels, sale price, and much more.
If there is no online search platform for the county, city, or state you are interested in, you can always rely on Reonomy, or visit the county clerk’s office in person as a last resort for gaining access to the property sales records you need.
Deriving Insights from Property Sales Records
As we mentioned earlier, there are a number of different insights that you can gain from reviewing the sales history of real estate properties.
In this section we will discuss, with a little more context, how sales records can be used to gather intel on a property, its owner, and the surrounding market.
Current Property Value
To estimate the current value of a commercial property, you can take its most recent sale price and compare it to other properties of similar characteristics that have been sold recently.
By looking at what similar properties in the same market have sold for, you can determine whether a property has appreciated or depreciated over time.
Properties Likely to Sell
By simply reviewing property sales records, investors and brokers can predict whether a property is likely to be offered for sale. Owners of properties that have not been sold in a long time may be more willing to sell, even if their property is currently off-market.
Service providers and other professionals looking to do business with new property owners may be interested in reviewing sales records in order to find recently sold properties.
Identifying individuals and groups that recently purchased real estate can be a great source of leads for businesses offering everything from mortgage refinancing to roofing repairs and landscaping services.
Identifying Red Flags
Simply put, reviewing previous transactions tied to a commercial property will allow you to spot any abnormalities.
Perhaps the sale price of a property does not line up with its market value. Maybe it’s been sold several times in a short time span.
Whatever the case, for those looking to purchase property or provide mortgages and other services, transaction red flags may be a good way to weed out questionable business prospects.
Property sales records are also the basis for generating accurate real estate comps.
Sales comps can help you evaluate much more than a single property. They can provide invaluable insights about entire markets, property owners, asset types, and other commercial real estate trends.
Brokers, investors, lenders, and other service providers who know how and where to access property sales records have the advantage of staying ahead of the competition. Reonomy is here to help.