The property’s value is determined at the beginning and end of the investment term by a third-party, independent appraiser. These are the same type of appraisers used by traditional mortgage lenders. It is important to note that neither Invown nor the investors or owners choose the appraiser. The appraiser is selected by a third party with no interest in the property’s ultimate valuation. For example, in some cases, 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).