Evaluating Your Portfolio in an Uncertain Market – An eBook for Lenders of All Sizes
The Bird’s Eye View: Aerial Imagery for Mortgage Brokers in 1-2-3
Mortgage brokers, how often do you access property images from home or the office?
Online property images can be a key part of the mortgage application process and give you a viewpoint you just cannot access in person: the bird’s eye view.
There are three great reasons to access aerial property images.
#1: Gain a Unique Perspective
Aerial real estate photography offers a unique perspective for mortgage professionals, including:
- Learning as much as possible about the subject property — the more you can verify, the better.
- Viewing adjacent structures.
- Assessing the neighbourhood and community.
- Better determine what a property looks like from all sides.
- In some cases, you can avoid having to drive by the subject property by accessing these images.
This can give you a fulsome picture of a property that can help inform your decisions and increase the likelihood of your applications’ success.
#2: Improve Your Relationships with Lenders
Aerial property images can reveal more about a property — and can help you verify important details about the property location, size, dwelling type, and more. This is key to your mortgage due diligence.
Street View property images also offer an important perspective for brokers. Again, you can verify information about the surrounding neighbourhood. You can also verify the legal property address as the house number will often be on the exterior façade.
Additionally, many lenders will be accessing these images during their own due diligence. You can be on the same page and viewing the exact same information that they are.
Verifying these details online can save you time and keep you agile if you are physical distancing.
#3: Access Aerial and Street View Property Images That Tell You More
The best aerial and street view property images do not come alone. A good automated valuation model (AVM) will come with these images, along with a host of other data, including:
- The legal description of the selected property.
- The legal homeowners and parties on title.
- The property’s sales history.
- The estimated property value and comparable values in the neighbourhood.
- Current mortgages registered.
- Comparable sales – historical and at the current valuation date.
- Aerial views not only of the subject property, but also of the surrounding neighbourhood and closest sales comparables.
By knowing more, you can watch for early signs of trouble with a deal or dig deeper and clear up any confusion before it becomes an issue.
Access aerial imagery and Google™ Street Views integration in the Purview Report. Cross-check property information and access one of the most accurate, complete, and timely AVMs on the market.
To learn more about Purview, call 1-855-787-8439 or visit www.purview.ca.« Back to Blog