As a financially disciplined private lender, you seek every opportunity to reduce your risk. Many private real estate lenders with a disciplined approach to investing are building high quality, verified photos into their lending process.
Verification of Work
In building milestones into the loans you give out for real estate; you can include photos for verification. Consider high-quality photos as supplementary, but vital information with your forms.
Many private lending companies request high definition photos for any home improvement projects completed either from their contractors on foreclosed property or the borrower. Each time they have confirmed the work with high-resolution photos of home improvement work completed, the next disbursement is sent out.
Photos can also be geotagged using a third party verification system to protect private lenders against fraud. The Pruvan app offers 3rd party verified photos tagged by location. You can rest assure the photos they sent you came from the address you gave them money for. And not fraudulent activity.
Customers before coming to us sometimes report worst case scenarios like:
- Borrowers sending a photo from the internet to get their next loan draw
- Contractors taking their money and completing home improvement on another property
Each photo includes a trust seal that verifies where the photo was shot, so you know they took the photo using our app.
Our current customers (especially home inspectors) appreciate using our Pruvan app because the photos are also higher quality than other mobile apps out there. Plus they can access photos from either their computer or mobile device.
All forms, certified photos, and even videos are in Amazon Web Services’ secure cloud storage. That way you don’t have to worry about your computer’s hard drive running out of space due to the file size of many high-resolution photos.
You can learn more about our app for private lenders here.