AUTOMATED VALUATION MODEL (AVM)
Appraisal MC offers access to AVM modules as a service. The AVM is a statistically based summary derived from a program that uses information available for real estate transactions such as comparable sales, property characteristics and local market trends to provide an estimate of market value for a specific property. These tools can assist as a supplement to manage risk for collateral valuations.
We offer a full range of field and desk reviews to ensure we're providing the highest quality appraisals for our clients.
• Field Reviews: A field review appraisal includes a visual inspection of the property in question from the street. The neighborhood or area where the property is located is also visually inspected, as well as the comparable sales used.
• Desk Reviews: The appraised property is valued by another appraiser using certain data points to determine accuracy. Data such as comparable sale dates, price, and prior sales history may be analyzed to determine this.
• Automated Reviews: This is a tool that allows the QC reviewer to pass/fail requirements on reports. This automatically ensures that important requirements are not missed in review.