For years appraisers—equipped with the purchase price—have provided their opinion of residential property market values, protecting the borrower from overpaying and the lender from over lending. The most cost-effective valuation solution for residential properties, AVMs can support the purchase agreement approximately 85% of the time without the benefit of knowing the purchase price.
The accuracy of AVMs is well documented and readily available from a variety of sources. However, those familiar with these tools are the first to warn users about the dangers of misusing AVMs. In this white paper we will address how Veros is leveraging its VeroPRECISION offering to help lenders determine whether or not a property is suitable for AVM use and, if so, identify the best AVM for that specific property.
Learn how today's next-generation cascade solution addresses accuracy in non-purchase and refinance transactions.
- Discover why all HELOCS are not created equal
- Learn how to determine whether or not a property is suited for AVM use
- Garner key takeaways on AVM disparity
- Overcome roadblocks to achieving AVM accuracy