Web based real estate valuation validation tool

COMPARABLES

Brief Description

Comparables is a first of its kind, a unique web based valuation validation tool. It helps Banks, HFCs and NBFCs to revalidate the valuation given by external agencies, thus mitigating the risk in the system. The tool compares the prices across Liases Foras primary market data, registration data and data sourced from various property portals, to provide valuation solutions.

How can Comparables help you?

Comparables helps housing finance, mortgage finance, mortgage insurance companies and other lenders in the following manner. It -

Facilitates detection of valuation frauds, through identifying discrepancies in market prices and valuation
Provides surety on valuation while underwriting
Lowers the cost due to reduced requirement of additional valuation report
Reduces requirement of driveway valuation, and provides desktop valuation
Reduces time and efforts of technical managers for validation and verification of valuation reports.

Modalities of the Product

Comparables evaluates current market prices of a property based on three data sets, namely, Liases Foras’ primary market data, registration data and data sourced from various property portals. First step is SEARCH of address in all the three databases. SEARCH uses Boolean queries and Fuzzy search to identify the exact property or a property on the same lane/street. The confidence level of search is built upon the closeness to the address. Once the property is identified, prices across databases are compared to arrive at a suggested price/valuation.

This suggested valuation takes into account the following parameters -

Floor rise and parking
Saleable to Carpet area ratio (loading) across databases
Time stamp of listing on various property portals as well as registration data.

Magnet Theory of Future Price Projections

What is key is that this entire process will take not more than 30 seconds.

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