Ontario-based FCT has launched a new real estate appraisal solution which it says will streamline the lending process and make it more efficient.
Flex Appraisal provides access to centralized data on properties, enabling appraisers to fully analyze and complete transactions within hours; bringing together valuation technology and qualified appraisers for a more accurate and speedy result.
"The conventional real estate appraisal landscape presents many challenges, including cost, decentralized data, long turnaround times and legal liability," said Michael LeBlanc, CEO of FCT. "Our solution seeks to remedy all of these concerns and provide an improved experience for Canadian lenders. With Flex Appraisals delivered in less than 4 hours, lenders can build and retain more business."
Upon initial evaluation, the solution utilizes the relevant data points available on a property to provide an expert market value estimate. The data is then presented to an appraiser in a standardized report format for analysis and Property Valuation Indemnity Insurance eligibility.
"The introduction of Flex Appraisal demonstrates FCT's commitment to creating innovative real estate solutions that modernize the Canadian real estate landscape. Appraisals that once took days or weeks to complete can now be delivered within seconds or hours. This lessens the need for potential homeowners to shop around for quicker appraisals, allowing real estate professionals to close faster, and provide greater peace of mind and an improved customer experience." added LeBlanc.