RealtyTrac launches data site providing ‘pre-diligence’ reports on homes for consumers


Free Property Report Allows Consumers to Identify Sex Offenders, Meth Labs, Environmental and Natural Hazards along with a Detailed Property Financial History

RealtyTrac   today announced the beta launch of its new consumer focused, mobile responsive, property Pre-DiligenceTM website,www.HomeDisclosure.com, which arms real estate consumers with detailed due diligence data on 117 million U.S. homes. Home Disclosure will be available to consumers early in the process of buying, selling or renting a home.

Home Disclosure was created to empower real estate consumers with critical information they can’t find anywhere else in one place, and some of which is only disclosed to buyers at the closing table — if it’s disclosed at all. In each property report, Home Disclosure provides more than 40 categories of real estate data, along with hyperlocal neighborhood and environmental data impacting the health, safety and financial security of the homeowner or renter.

“There is no other property report — let alone property listing website — that will identify nearby registered sex offenders and drug labs, while also giving potential home buyers comprehensive loan history and financial details such as the current equity position on each property,” said Rob Barber, CEO of RealtyTrac. “We’re able to provide this unique combination of property due-diligence data to consumers thanks to RealtyTrac’s nationwide footprint of publicly recorded real estate data along with the neighborhood and environmental data we gather through our subsidiary Homefacts.

“We’re willing to provide this data to consumers because our business model is not dependent on whether someone buys, sells or rents a home,” Barber added. “We are agnostic when it comes to whether or not a real estate transaction occurs, which frees us up to provide a property report with transparency as its highest objective.”

The report also provides hyperlocal neighborhood data on natural hazard risk (including flood, earthquake, tornado, wildfire, and hurricane risk), environmental hazard risk (including superfunds sites, brownfields, polluters and storage tanks and spills), crime level, school quality, median income and much more.

“When buying a home or investment property, it’s extremely important to completely investigate not only the property but also the neighborhood.” said Mike Sawtell, executive vice president and general manager of consumer solutions at RealtyTrac. “The Home Disclosure report will let you do exactly that. It’s extremely powerful data that will not only help home buyers decide on which property and neighborhood may be right for them, but give them critical data to help them negotiate much more effectively.

“Most real estate websites provide consumers with the basic information they need to search for homes — bedrooms, bathrooms and list price — but they don’t offer deeper data that will make buyers aware of potential risks in the neighborhood,” Sawtell continued. “It’s interesting that in today’s world, consumers will perform more pre-diligence on a $30,000 automobile (by purchasing a Carfax report) than they will on a $300,000 home. This is   because until now there was not a simple method to access the necessary information. Home Disclosure changes that. For no cost, a consumer can have access to a comprehensive, yet easy-to-use report that is built for smart phones and tablets. Home Disclosure provides important elements of big data necessary for thorough home pre diligence while making the report extremely accessible for all.”

RealtyTrac built Home Disclosure from the ground up using public record real estate data (sales deed, mortgage, tax and foreclosure data), along with neighborhood characteristics and risks data, and packaging that data in a user interface designed carefully for a very specific real estate consumer: one performing pro-active, pre-diligence on a home — whether they are looking at that home for purchase or rental, or whether they already own or rent the home.

 

 

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