With social distancing mandates in mind, Appraisal Logistics has introduced an appraisal inspection tool to empower appraisers with consumer-provided photographic data.
The new social distancing interior inspection tool, dubbed Property Vision, enables borrowers and appraisers to stay safe during the coronavirus pandemic while lenders get compliant valuations.
“While the government has offered the industry the option of using desktop and exterior-only appraisals in a variety of circumstances, lenders are still finding the need to order interior inspections,” says Frank Danna, CEO of Appraisal Logistics, in a release. “As it is necessary to keep our appraiser partners safe, give borrowers the assurance that their lender cares about their health and safety and give our lenders fully compliant real estate valuations, Appraisal Logistics has introduced Property Vision.”
Appraisal Logistics developed the software, which allows the consumer to take interior photographs of their home using any web-enabled device equipped with a camera.
There is no app to download and consumers are provided with simple instructions that walk them through the process.
The technology automatically collects geocoding information and other metadata to ensure that the photographs are of the subject property and then makes them available to the appraiser for use in arriving at an opinion of value.
“Property Vision is now an integral part of our new COVID-19 valuation products, including our COVID-19 Desktop Valuation and our new COVID-19 Drive-By evaluations,” says Mark Tague, vice president of sales for Appraisal Logistics. “We’re making it available to all of our appraisers, banks that use our AIM-Port appraisal management tool and even competing AMCs who want to protect their appraisers.”
