Desktop Appraisal Process

CoesterReverse.com

Overview• One of the biggest concerns in the

reverse mortgage process for borrowers is the value of there home.

• The traditional $450 FHA Appraisal is sometimes a barrier that cannot be overcome in the sale process.

• With modern technology and online information, appraisers and AMC’s are able to offer solutions outside the traditional “Full” appraisal process.

• CoesterReverse.com offers a tested solution

Desktop Appraisal • USPAP Compliant Appraisal preformed by a local appraiser that estimates the value without an inspection.

• Appraiser uses online information such as Tax Record, MLS, Google and other resources to obtain reliable information on the property.

• Desktops are the most accurate form of valuation outside of a full inspection of the property.

100 Properties tested

Customers Estimate

Desktop Appraisal

Full Appraisal

$347,807 $294,910 $310,873

The biggest factor in the difference is the condition of the property.

In the Reverse Mortgage Space• Coester’s Valuesafe Appraisal Program

offers the best solution for borrowers currently

• $100 Desktop Upfront > Results Communicated to lender > Decision made on full appraisal.

• If Full appraisal is ordered $100 paid to desktop gets applied to Full Appraisal, same overall cost.

Current Process

Borrower Applies

Counseling is

Completed

Desktop is

Ordered

Full is Ordered

Current Process

Borrower Applies

Counseling and

Desktop is Completed

Full is Ordered

Build in the biggest concern

• Build in the desktop to the counseling process so borrowers can get all questions answered and make an intelligent decision.

• Counseling options should include Traditional and with the Desktop Option

• Would also empower Reverse Mortgage Lenders to possibly bill the appraisal instead of requiring the fee upfront.

Coester Appraisal Group Solutions

• Nationwide Appraisal Management www.coesterappraisals.com

• 100% Guarantee on all valuations

• Custom account management

• Reverse Mortgage Special Program – www.CoesterReverse.com

• Staff and Fee Appraisers Nationally

Contact Info:

Brian C. Coester

E-mail: bcoester@coestesterappraisals.com

Phone: 240-667-7694

Cell: 240-277-2900