The property’s value is determined at the beginning and end of the investment term by a third-party, independent appraisal. These are the same type of appraisals used by traditional mortgage lenders. When a full appraisal is needed, neither Invown, the investor(s), nor the owners choose the appraiser. A third party with no interest in the property’s ultimate valuation selects the appraiser. In some cases, for example, if the owner has a significant amount of debt-free equity in the home and all parties agree, the appraisal can be conducted electronically using Automated Valuation Models (AVMs) provided by an independent, third-party vendor.