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Empire IP LLC

G Randall Bell

A real estate disclosure reporting method identifies a subject property, accesses an insurance claim database, determines from the database whether an insurance claim has been filed for the subject property and generates a report regarding the subject property and the insurance claim.

Real estate disclosure reporting method

A real estate disclosure reporting method identifies a condition category, creates a disclosure form and lists items of disclosure on a disclosure form. The items of disclosure relate to the condition category. The reporting method also researches a particular property to determine known items of disclosure, indicates the known items of disclosure on the disclosure form and generates a report of the known items of disclosure.

A real estate disclosure reporting method compiles a plurality of items of disclosure. The items of disclosure are related according to a plurality of condition categories. A particular property is researched to determine a plurality of known ones of the items of disclosure, and the known ones are disclosed according to the condition categories.

A process for the full disclosure of potential detrimental conditions affecting property transactions organizes the spectrum of disclosure issues that are important to lenders and prospective buyers. The real estate disclosure reporting method includes the compilation of a comprehensive list of items of disclosure based upon federal, state, lender and market requirements. These items of disclosure are classified according to condition categories that provide a systematic procedure for researching and a logical organization for reporting known conditions. A disclosure form provides a listing of the items of disclosure according to these categories. A particular form lists over one hundred items of disclosure under ten separate categories. The disclosure form is completed through a process of researching primary, secondary and third-party sources for information regarding a particular property. Primary sources of information include a property walk-through and an owner interview. Secondary sources of information include government and police records, Internet databases and a property profile. Third-party sources include an appraisal report, escrow documents, termite reports, loan documents, title policies and similar studies, documents and reports. This researched information is used to complete the disclosure form, which, along with supplemental forms providing further comments, legal disclaimers and signatures, constitutes a comprehensive real estate disclosure report.

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Laguna Niguel, CA, United States of America

G Randall Bell