Many financial institutions rely on property appraisals for their property valuation and mortgage due diligence needs. While property appraisals are a valuable information source, if you are relying solely on property appraisals, you may be missing out on some efficiencies.
Automated valuation models (AVMs) are the perfect complement for property appraisals. It is not an either-or choice. AVMs and property appraisals often go hand-in-hand.
On the Purview blog, we are showing how to use both to maximize your lending operation’s due diligence, efficiency, and closing rate. Read it here: https://www.purview.ca/question-of-the-day-property-appraisals-or-automated-valuation-model/