Media Contact: Howard Franklin
Vice President: Greg Sullivan
ElectronicAppraiser.com Introduces PhotoCheck Product
New technology offers comprehensive, cost-effect alternative to appraisals and BPOs
Boca Raton, Florida, June 15, 2004 – Valuation technology provider ElectronicApparaiser.com today announced the release of PhotoCheck, which combines a professional site inspection with an exterior digital photograph and property condition report to provide faster processing and more dependable turn-around times. The new product saves mortgage lenders money as a cost-effective alternative to traditional BPOs and drive-by appraisals.
“Coupling a photograph and AVM is a next logical step in valuation technology,” said Greg Sullivan, vice president of ElectronicAppraiser.com. “PhotoCheck will make institutional lenders more efficient while offering a choice of property valuation options without sacrificing speed, accuracy or cost.”
PhotoCheck guarantees institutions a completely independent, unbiased valuation, uninfluenced by local brokers or appraisers. The easy-to-read reports are available in Adobe PDF, XML and HTML formats. ElectronicAppraiser.com also offers an expedited 48-hour service, which favorably compares to standard broker’s price opinion pricing.
PhotoCheck can be ordered as a standalone report or in combination with any valuation product, including ElectronicAppraiser.com’s AVMLink, which leverages patented technology to provide access to the nation’s leading property data repositories with one convenient interface.
“PhotoCheck and AVMLink are a best-of-breed solution, offering lenders the greatest range of AVM options with cascading logic, access to a national network of providers and visual confirmation of a property and its value,” Sullivan said.
PhotoCheck’s online ordering system requires less than ten seconds to complete, and the company has plans to offer a control panel for managing accounts and performing training and demonstrations.
ElectronicAppraiser.com is a Florida-based valuation technology provider, featuring two main products: PhotoCheck, an electronic property photo combined with an automated valuation model (AVM) in an easy-to-read report and AVMLink, which provides access to several national AVM providers. The company’s technology also provides access to the nation’s leading property data repositories with the convenience of a single interface.
ElectronicAppraiser.com offers traditional AVMs and/or PhotoCheck, depending on the lender’s need.