QwikVal™ Restricted Use Valuation Reports
The report is intended to give clients and consumers a “quick snapshot” of values in the area around their home, and keeps a reluctant home owner from having to pay for a full appraisal fee in some cases.
This is a “restricted use” report, meaning that the product will not be a viable option for a lender to use in a primary loan application for the underwriting process. This product is also only useable by ONE client and cannot be re-assigned.
QwikVal™ reports are intended to:
- Provide a quick snapshot of an estimated value
- Reduce the volume of unnecessary full appraisal requests when a higher value is questioned by the bank or consumer
- Provide REO – foreclosure and collateral valuation analysis at a reduced cost
- Add additional tools to the underwriting and mortgage loan process
This form is a hybrid between the traditional AVM products and the BPO products, but offers more accuracy and reliability and the certification of appraisers. Note: There is NO on-site inspection with this product.
This form is NOT eligible for a “reconsideration of value”. And, if the form is requested by the client, and a subsequent FULL appraisal is ordered on this property, the full appraisal fee would be required. So it does not limit the fee of any future appraisal requests on a particular property.
Please see the example form. This product is now available on a limited “trial” period per client.
QwikVal™ reports are USPAP compliant.
If you are a client that is interested please select the form “QwikVal-Desktop” or “QwikVal-Driveby” on the drop down menu in the order management platform. If you are a consumer and would like to order this product directly, please go to our Contact Us page.
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