Singapore-based asset management company PhilipCapital and Hong Kong-based surveyors CHFT Advisory and Appraisal have formed a joint venture to promote the use of automated property appraisals and make it convenient for banks to process mortgage applications, but it faces stiff resistance from surveyors who do not want to replace the manual process.
Stella Law, executive director at CHFT, said the availability of automated valuation model (AVM) makes it easy for users to instantly calculate…
Source : South China Morning Post
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