Davis, Calif.,- “$50 and 15 minutes.” says James Holliday, chief technologist at Open Hazards Disclosures (www.openhazardsdisclosures.com). “That was our goal. To provide California real estate professionals with a Natural Hazards Disclosure report within minutes instead of days at the lowest price in the industry.” Holliday, in collaboration with Nelson Page, created this technology for the Open Hazards Group, the world leader in earthquake forecasting and hazard analysis. Founded by technology pioneer William Graves and earthquake science professor John Rundle, the Open Hazards Group will officially launch their product at the Northern California Real Estate Expo in Sacramento on April 2, 2014. Booth #406
Among the stack of paperwork when buying and selling a house in California is the Natural Hazards Disclosure report. Usually about 50 pages, the Natural Hazards Disclosure report or NHD, discloses the major known natural hazard risks that are associated with a property, such as whether the property lies within a known flood zone or near an earthquake fault line. Providing a comprehensive risk disclosure document is a requirement under California Civil Code 1103, also known as the Natural Hazards Disclosure Act.
Open Hazards Disclosures also offers a free version of their Natural Hazards Disclosure report providing all the natural hazards information except tax information, which is required for transacting real estate in California. “We feel the free version of our NHD report can do a great benefit,” says Holliday, “by providing information at an earlier stage of the process to assist perspective buyers with such an important decision as buying a home.”
Natural Hazards Disclosure reports are available via the web and mobile devices at www.openhazardsdisclosures.com. Reports can also be ordered by phone or email for customers that register for a free premium account.
About Open Hazards Group
The Open Hazards Group is a team of academic scientists and engineers dedicated to reducing the impact of natural disasters by providing risk assessment as well as other web-based tools to serve homeowners. Other products offered by the Open Hazards Group include a detailed seismic safety report, which forecasts damages from potential earthquake activity. Open Hazards Group is developing a product to serve the commercial property management industry. More information about The Open Hazards Group is available at www.openhazards.com.