Redzed Loanapp has some great functionality for you to order a valuation on your security property while you are putting your application together.
NOTE that Redzed will have rules (configured with CoreLogic) that determine which type of valuation is required for your property. This logic will be used in the Loanapp Ordering flow, selecting the valid type for your property.
Where in Loanapp can I order a valuation?
The Valuation 'widget' is on the Loan section, immediately below where you enter the details for your Security Property:
When you expand the widget, the address (and other details) of your Security property will already be registered; and you will be able to Request a valuation:
If you have more the one security property, then you will have multiple properties registered in the widget that you can order a val for.
When you click "Request", a new popup will appear which will be to select the "type of valuation" for your request. Loanapp will call Corelogic and pass your security property data across to the Redzed rules:
And when ready, populate this dropdown with the correct valuation type. Note that you are not able to change this, as it has been determined by Redzed rules. The two types that you will have returned are Intellival AVM:
And Residential Short Form Val:
Once this Type has been populated, click Request - this will full order the valuation, and the widget status will change to "Waiting". Note that you are able to revoke (Cancel) as well:
The Intellival AVM will be completely almost instantly (2-3 minutes).
The Short Form Valuation generally takes a few days, and will depend on the valuer being able to complete the valuation.
What happens when the Valuation is completed?
When the Valuation is completed by Corelogic, the widget status will change to "Completed":
Currently, the details button will show you the 'json' (data output) of the valuation. The hard copy val is not currently populated back into the widget. To see the valuation, you need to go to supporting documents, which can get to (even before you finalise your application) by clicking on the Document icon in the ribbon on the top left:
Which takes you to the supporting document interface. The checklist itself will not yet be generated (if you havent completed the application), but the returned valuation will be in the document bucket. You can either drag it to View and Edit to review on screen, or click download all to download:
Commercial Property Valuations are not currently supported in Loanapp as they require approval from the Redzed