I was sent an AVM, but it wasn’t accepted. Now an appraisal will be ordered. Why wasn’t the AVM accepted?

Because AVMs are automated and do not provide an interior inspection, they must meet specific criteria to be accepted by Point. This ensures that your home value is fair and accurate. For example, one key requirement is that the two values provided by the AVM must be within 5% of each other to ensure confidence in the report. Additionally, the comparable properties used in the AVM must be recent and similar to your home. If these conditions aren’t met, Point will order a traditional appraisal to provide a more accurate valuation.