Pro Teck Valuation Intelligence, a national leader in appraisal management and real estate valuation services, has added a new tool to promote safe social distancing. VALIDITY is a guided homeowner inspection tool that will allow inspections to continue in the midst of the COVID-19 pandemic. To make the process as easy as possible for homeowners, there is no app to download and VALIDITY is compatible with any device (smartphone, tablet, laptop or PC).
Social distancing and shelter in place concerns have made property inspections, especially interior inspections, more difficult. VALIDITY was developed to get the necessary information to keep valuations moving forward by giving homeowners the tools needed to complete an inspection. To make the home valuation process as seamless as possible, VALIDITY can currently be used with GSE appraisal forms (1004 Desktop), as well as with Desktop Appraisals, CollateralPoint, BPOs and other Pro Teck valuation products.
“We wanted to do our part to protect the health and safety of our employees, appraisers and borrowers, while also ensuring housing finance didn’t screech to a halt during these uncertain times,” said Tom O’Grady, CEO of Pro Teck Valuation Intelligence. “With VALIDITY, we are able to provide continuity in our industry and keep the home-buying process moving forward.”
A VALIDITY inspection takes 20 minutes on average to complete. Via a Q&A interface accessible from any device (smartphone, tablet or computer), VALIDITY walks the homeowner through their property, with easy-to-follow prompts for information and photos. Designed by Pro Teck’s Chief Appraiser and Chief Compliance Officer, VALIDITY empowers the homeowner to provide the background, context and photos an appraiser would usually collect themselves.
In terms of security, VALIDITY collects photo metadata including location and date, which ensures that the photos are current and of the correct property. The app also makes the homeowner attest to the accuracy of the data provided, and if needed the appraiser can prompt the homeowner for more information and/or revised photographs.
“Homeowners are not appraisers, but with this secure, flexible and easy to use tool they can collect the photos and information an appraiser needs during times of social distancing. VALIDITY also provides two-way communication between appraiser and borrower, making it easy for the appraiser to get clarification or additional information they need to complete their appraisal,” said O’Grady.
VALIDITY can help you keep the home valuation process moving forward. If you have any questions about VALIDITY or any other Pro Teck service, please contact us.
About Pro Teck Valuation Intelligence
Pro Teck is a national provider of appraisal management and residential real estate valuation services. For more than 40 years, we have worked with lenders, loan servicers and investors to improve risk management through superior real estate collateral information. Pro Teck’s Valuation Intelligence production platform ensures accuracy by using robust real estate market data and analytics to assist our appraiser and broker partners, inform internal QC operations and add report transparency for clients. Learn more at proteckservices.com.
Pro Teck Valuation Intelligence