Do you do an appraisal? Alli Parkinson
We do not do an appraisal as part of our loan process. We do evaluations instead of an appraisal. An appraisal would be looking at the current value of the property, but we lend based on the ARV of the property, so our evaluations help determine the ARV of the property. Our evaluations are not a Comparative Market Analysis or a BPO, but they are closer to these than to an appraisal.
Check out our YouTube videos: What Is the Difference Between a BPO and an Appraisal, What’s the Difference Between a Comparative Market Analysis and an Appraisal
Did this answer your question?