This transaction set communicates real estate property information and related documentation between organizations involved in real estate transactions or assessments. Typically sent by real estate professionals, appraisers, title companies, or lending institutions to clients, underwriters, or regulatory bodies, the 262 Real Estate Information Report may be transmitted in response to requests for property assessments, loan applications, or compliance inquiries. The mandatory BGN (Beginning Segment) establishes the transaction purpose and date, while the NX1 (Property or Entity Identification) segment within the detail loops identifies specific properties being reported on. Multiple REA (Real Estate Property Information) segments allow senders to convey key property characteristics such as property type, condition status, and other pertinent details.

For example, Midwest Title Company prepares a 262 transaction to report on a residential property being financed through First National Bank. The transaction begins with identifying information about Midwest Title in the heading section, then includes a detail loop for the subject property identified through NX1 with its location components. Within this loop, Midwest includes REA segments describing the property as a single-family residence built in 1995, QTY segments indicating lot size and structure measurements, and AMT segments showing assessed value and comparable property values. Additional nested loops capture information about existing liens through LN2 segments, property expenses through PEX segments, and transaction details through RET segments, allowing First National Bank to efficiently receive comprehensive property documentation in a standardized electronic format.