When selling your home, it’s important to take all necessary precautions to protect yourself and your investment. One of the most important steps in listing your property is having your identity verified by a reputable source.
Who needs to have their identification verified?
All the legal owners of a property will need to have their identity verified. The legal owners include all the names listed on the current title of a given property.
Each province and territory in Canada maintain a land title or property registry system where property ownership information is recorded. The registry provides details about the property, including the legal description, current owner’s name, any liens or encumbrances, and historical transactions. You can search the land title or property registry either online or by visiting the local land registry office.
If you would like assistance acquiring a copy of your land title, please reach out to the Bōde Team at email@example.com
Potential buyers who are interested in submitting an offer on a Bōde listing through the online platform must create a Bōde account and have their identity verified.
Seller can also choose to limit showing requests made through the Bōde platform to ID verified users. These showing preferences can be updated directly in the listing details in the seller’s Bōde account.
Why is it important to verify identification?
Identity verification plays a vital role in protecting Canadian home sellers and buyers from falling victim to fraudulent activities in real estate transactions. By verifying the true identities of the parties involved, it significantly reduces the risk of scams, impersonation, and unauthorized transactions, providing a crucial layer of security.
The Canadian real estate market operates under strict legal and regulatory frameworks, including anti-money laundering (AML) and counter-terrorism financing (CTF) laws. By ensuring identity verification, both sellers and buyers can demonstrate their compliance with these requirements. This process establishes the true identity of the individuals involved, helping to detect any suspicious or illegal activities and maintaining the integrity of the real estate market.
Real estate transactions involve sensitive personal and financial information. By verifying identities, individuals can have greater confidence that their personal information is being handled securely and that they are interacting with legitimate parties in the transaction.
What is the Bōde ID verification process?
The user interacts with the user-friendly interface, following prompts to complete the necessary actions. The verification result is communicated back to Bōde, allowing them to make informed decisions regarding eligibility.
If you would like assistance with verifying your identity in your Bōde account, please reach out to the Bōde Team at firstname.lastname@example.org