Definition: A computer model that uses property and market data to estimate a property's value.
Example
A model analyzes public records and recent sales to produce an estimated value range.
Keep the distinction clear
An AVM estimate is not automatically an appraisal or a property inspection. Results depend on the data, assumptions, and intended use.
Related terms
Appraisal · Market Value · Comparative Market Analysis (CMA)
Keep studying
References: CFPB: automated valuation model standards
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