Valuations (VAL)

LIXI2 Valuations Standard (VAL)

Purpose

This standard enables electronic messaging between lenders and valuers (and related service providers) in ordering, executing and returning reports for real estate valuations.

Users

The intended users of the standard are:

  • Brokers, lenders, and other parties requesting a real estate valuation
  • Valuation service providers and Valuation platforms that facilitate the ordering of valuations
  • Valuers that execute the valuation
  • Holders of an appropriate licence (MC1, L2-C1, L2-C2, L2-C3, L2-C4, L2-V1, L2-V2, L2-V3)

Content

The message content includes:

  • Details of the parties involved
  • Instructions for the valuer
  • The results of the valuation
  • Full valuation report
  • Minimal applicant details and loan details

Messages

The message types include:

  • A request for a valuation inquiry (quote)
  • Negotiating the terms and fees for the valuation
  • Instruction for the valuation to be executed
  • Updates to the valuation instructions
  • The result of the valuation (AVM or full valuation report)

Documentation

(Members & Licensees Only)
Schema documentation: