BeddingnBeyond

Frequently Asked Questions

 
Questions
What is an AVM appraisal?
Is an AVM appraisal a professional appraisal?
Where does AVM appraisal information come from?
If I have questions about my AVM appraisal report who do I contact?
How do I get the report once I purchase it?
Is my credit card information secure?

What is an AVM appraisal?

"AVM" is the acronym for Automated Valuation Model. AVM technology was developed to provide a cost-effective alternative to the manual appraisal process. AVM's automate the data gathering and analysis of the same data compiled by professional appraisers.

The largest banks, credit unions and mortgage companies use statistical modeling and predictive technology to generate automated appraisals for the approval of home mortgages and home equity loans. Within the residential lending industry automated appraisals are referred to as "AVM" appraisals.

Is an AVM appraisal a professional appraisal?

While an AVM appraisal may fall within some definitions of an appraisal, it is not a formal appraisal under the Uniform Standards of Professional Appraisal Practice (USPAP). For consumers AVM appraisals are a timely and affordable way to instantly receive:
  • An online estimate of a home's value
  • A snap shot of a home's assessed value and sales history
  • An analysis of neighborhood sales comparables, history and trends

Where does AVM appraisal information come from?

Information used in the reports comes from the public records maintained by local, state and federal government records including county clerks and taxing authorities.

Instant Home Value, through it's partnership with the mortgage industry's leading AVM appraisal company, provides online access to the same appraisal technology and property information used by the country's largest mortgage banks.

If I have questions about my AVM appraisal report who do I contact?

The real estate professional on your report is the ideal person to contact. They have the knowledge and experience explain the valuable information AVM appraisal report's provide and how best to utilize this information if you are a buyer or a seller. The reports includes their contact information for your convenience.

How do I get the report once I purchase it?

Instant Home Value provides reports instantly. home valuation reports are available online 24 hours a day, 7 days a week for your convenience. Once you have opened an account, entered a property and select 'Purchase Report', it is instantly available. You will then be able to view this report for 30 days after your purchase. You simply log on with your user name and password and review your report activity.

Is my credit card information secure?

For your safety and security we do not store credit card information. When you make a purchase your credit card is being authorized by VeriSign, the largest and most secure online credit card authorization service in the world.