Insights for Brokerages – AVMs and Due Diligence
When deals don’t materialize, it means that time and/or money have been lost for everyone involved. Hence, it is important to be diligent early on in the process.
This can help mitigate risks and ultimately increase closure rates.
Many people wonder, at what stage of the mortgage process should due diligence be considered. Is it:
- At the application stage?
- After a preliminary lender approval has been obtained.
- At the appraisal stage?
- When all final documents have been signed and the deal is ready for submission to the lender for instruction.
In our opinion, it is point number 1.
Learn how you can leverage AVM technology to effectively do your due diligence at the application stage and improve the lender-broker alignment on the Purview blog: https://www.purview.ca/top-reasons-brokerages-are-incorporating-avms-into-their-workflows/