The REDAR™ Score — Now you can objectively measure your Real Estate Purchase Risk.
As you know, the banks manage their risk by using the Credit Score. Today, there is a new scoring process, developed by the REDAR™ team to help you objectively determine your real estate purchase risk.
The current, flawed model typically used to buy a house
Step 1 - Look for house with agent
Step 2 - Make offer on target property
Step 3 - Get loan
Step 4 - Close sale
Somewhere inside of those steps, a decision is made to take the risk to buy based on something. In almost every real estate sale, the buyer is basing their decision on either a discussion with a sales agent, and/or the fact that the bank approved the mortgage (but all that means is the bank thinks lending you money is good for them, not if buying the house is a good risk for you). Either way, it is quite common for a buyer to remember they bought a house so many years ago, but if you were to ask them to show the economic basis as to why, and why at the time they believed they were making a good decision, apprised of the risks, with a complete, objective understanding of the transaction they were entering into, they simply can't recall. They most certainly can't find a detailed report providing a specific analysis. These are the very same buyers who, statistically speaking, find themselves in a world of hurt later on because of it. It's your turn now. You'll want to be an informed buyer.
The REDAR™ Advantage
The new market reality has made the old way of determining the nature of the risk you are taking to buy a house obsolete. You have a 40% chance of getting stuck with either a foreclosure and/or negative equity in the future. Without the types of tools the banks use, to 'score' or 'grade' risk, you won't be able make an accurate determination of that risk.
The REDAR™ is the first and only tool of its kind to help you determine your risk. You control the variables, REDAR™ performs the math, and you get a reliable score. A high score implies a lower risk and a better deal for you. A low score means a higher risk and a worse deal for you. Until now, you really had no way to objectively measure the type of risk you were taking to buy a home. Now, you can.
The REDAR™ Report
REDAR™ will generate a score for you for free on one property. However, to fully appreciate the strength of the analysis behind the score, and to gain a comprehensive insight into how your personal data intersects with broader contextual market data, the REDAR™ also generates a report. The report is approximately 30-35 pages of in-depth analysis that is specifically tied to your proposed transaction.
The REDAR™ Report compiles financial data from a wide array of sources, in addition to your inputs, and places it in numerous categories. Each category is scored up to 100%, and the total composite score is a weighted average of each input. Some areas are weighted more heavily than others. The report goes into great detail with respect to each area, where, after reading the report, you will have a much greater appreciation and understanding of exactly what it is you are contemplating.