One of the ways in which Marketproof New Development stays on top of the market is by providing customers with complete and up-to-date offering plan information. This provides visibility into all inventory on the market, whether listed or shadow.
Marketproof leverages AI text extraction that uses advanced machine learning algorithms to automatically identify and extract property information and offering prices from the ‘Schedule A’ section of offering plans.
The Schedule A is the section of an Offering Plan that details information on the units, such as the offering price, number of beds, baths, square feet, maintenance fee, common charges, monthly and annual taxes (with and without tax exemptions), projected total carrying charges (with and without tax exemptions). The Schedule A is the pricing schedule from which all future pricing will be derived and is the maximum amount a unit can be sold for.
The Schedule A can be amended, with prices increased or decreased and unit details updated to reflect changes in size and fees. It’s not unusual to see big buildings submit many amendments to the pricing in the Schedule A. As amendments are published, Marketproof updates its data to reflect the changes.
With verified property information and pricing, Marketproof customers can stop spending hours sifting through offering plan documents manually. This will help new development research and sales teams, developers, investors, lenders, brokers, and buyers have better visibility into new developments in NYC.
Learn more about Marketproof’s Stacking plans.
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Verified property information and offering prices are another way Marketproof New Development is here to help you with your real estate business. With Marketproof New Development & Condo, you can access available inventory, past sales, and more for 240,000 condos.