This week, appraisal management company Valuation Partners announced the launch of a new appraisal tool that aims to increase transparency and minimize delays associated with appraisal appointments.
The tool, HomeBase, is available through a secure link. The company explained that the tool provides consumers, real estate agents, appraisers and lenders real-time access to appraisal appointment details.
The tool, which will be available on the company's appraisal orders, streamlines the process by providing access to information including the appraiser’s contact and vehicle information, as well as what buyers and sellers can expect when visiting the property, the company said in a press release.
“Appraisal appointments are one of the biggest reasons for loan delays because they require coordination between multiple parties,” said Clint Reinhardt, Valuation Partners’ senior vice president and national account manager. “HomeBase not only reduces the risk of delays by adding transparency to the process, it gives home sellers the peace of mind that the person who shows up at their home to appraise it is supposed to be there.”