Q: When will InstaValue be conducted and how will I be notified?
A: The automated valuation service will commence after receipt of your mortgage application. Our team will complete the assessment and you will be informed if a full appraisal is still required.
Q: Will InstaValue work for all residential mortgage applications?
A: There are some product types and file applications that are ineligible, but your underwriter will notify you if this is the case. If it is unsuccessful on your file, there will be no cost to your client.
Q. Is this service available in all of your lending locations?
A. InstaValue is currently available in Ontario and British Columbia, subject to qualifications and restrictions listed above.
Q. We already have an appraisal completed by a Community Trust approved appraiser. Do we still need to complete this process?
A. If you already have a completed appraisal, you do not need to proceed with InstaValue. Make sure that you notify us, and we will review the appraisal in accordance with our appraisal policy.