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My borrower wants to pay for their appraisal at closing. Do I really have to pay for the appraisal up front?

My borrower refuses to pay for their appraisal up front. Can you make an exception for me?

I need this appraisal back right away. Can I place a rush order?

I have ordered an appraisal I no longer need. Can I cancel my order?

The house I need appraised is in a remote location. Can I really get an appraisal done in that area?

I cannot upload the sales contract. Can I fax it to you?

How does the process work?

Can I request comparables (comps)?

How much does an appraisal cost?

Do you have an appraiser in my area?

Can I place my order by fax or phone?

What is the turn-around time?

I have an underwriting condition. Where do I send it?

How will I be paid for my work?

I have not yet inspected the home. While I am not yet sure of the home’s value, the borrower's estimate of value is outside of the range of reasonable values. What should I do?

Is there any way I can be guaranteed a certain number of appraisals a month? How about all of the appraisals in my area?

What if I can't remember my username?

What if I can't remember my password?

How do I change my username?

How do I change my password?

Unable to login/Register?

My borrower wants to pay for their appraisal at closing. Do I really have to pay for the appraisal up front?
Unfortunately, Coester VM is not able to place an order with a local appraiser until the appraisal fee has been collected. Coester Appraisal Group suggests that you or your borrower pay with a credit card when you place your order and arrange to have the expense reimbursed when the loan closes. Having the client pay for the appraisal up front assures that your order will be processed as quickly as possible, and has the added benefits of discouraging your client from choosing to switch to another lender at the last minute. It also guarantees that you will not be left responsible for the appraisal fee if you are unable to close the loan. Top

My borrower refuses to pay for their appraisal up front. Can you make an exception for me?
If your company has a signed appraisal management agreement and is set-up to bill us, you can. If you are not set-up we are unable to complete the appraisal without it being paid up front. Top

I need this appraisal back right away. Can I place a rush order?
YES!! All orders submitted through Coester VMS are processed on a rush basis and you will receive your appraisal report ASAP. This having been said, there are steps you can take to help us expedite your order:

1. Please make sure to have your borrower’s credit card information, as the appraisal cannot be assigned until it’s paid.

2. Let your borrower know that you are in a hurry, and to expect a call from the Appraiser the same day. We will call the borrower and give the borrower the appraiser’s information to expedite this process. Encourage your borrower to make the appointment for the earliest time the appraiser has available. Your borrower should be ready to adjust their schedule to the appraiser's availability, or should make arrangements to have someone let them in the property. They should not expect the appraiser to be willing to schedule the appraisal outside of normal business hours -- the appraiser needs to see the property in broad daylight and will not be able to inspect the property in the dark or during some inclement weather.

3. If you are ordering a interior/exterior appraisal then do not assume that your borrower knows that they will have to provide the appraiser access to ALL interior and exterior areas of the property. It is common for a property owner to be surprised by this, and it occasionally results in unnecessary delays. It is also important to let the person who will be meeting the appraiser know that they will have to have access to every single unit in a multi-family building, and that any obstructions that limit the appraisers physical or visual access to any part of the property (such as junk or building supplies piled up against exterior or interior walls) could result in a delay.

4. Make sure that you submit all the necessary information correctly. By far the leading cause of appraisal delays is a lack of attention to detail on the part of the person ordering the appraisal. Coester Appraisal Group recommends double checking all the information before submitting your order:
- Are the borrower's name and access contact spelled correctly?
- Is the property address correct?
- Did you provide a couple of working phone numbers for the access contact?
- If your appraisal order is for a real estate purchase, did you attach a copy of the sales contract?
- Did you include an accurate lot size and legal description, relevant real estate tax information, and notice of any unusual or special conditions?
- Are you ordering the correct appraisal report? Check with the lender and make sure you know the correct form number and any extra addenda that are required to close the loan. Generally, multi-family properties need to be on multi-family forms, manufactured homes on manufactured housing forms, and non-owner occupied property appraisals will need to include operating income statements and rent schedules.
- Is a cost approach or income approach required? Generally the cost approach and income approaches are not relevant to accurate value estimation and the appraiser will not include them unless specifically asked to do so. Check with the lender before you order to avoid delays.
- Is the e-mail address you have submitted as your contact e-mail correct and are you checking it regularly? You will receive status updates and notification of any problems through your e-mail as well as on the Coester VMS website, so make sure you check both as often as you can.

Make sure that your borrower is fully aware of the possible consequences of delaying their inspection or missing their scheduled appointment. Let them know if such delays are likely to cost them money or delay their closing. Top

I have ordered an appraisal I no longer need. Can I cancel my order?
You may cancel your order anytime before the property has been inspected. Once the property has been inspected, the appraiser has done most, if not all of the work required to complete the appraisal report and will need and expect to collect the appraisal fee. If you suspect that there is a significant chance that your appraisal order will need to be canceled after it is placed, it is best to have your client pay for the appraisal up front in order to avoid getting stuck with the bill. Let your client know that the appraiser must be paid for completing a service regardless of whether or not they close their loan, and inform them if you consider them responsible for the appraisal fee. Please be aware that an appraisal order is a legal contract and that the individual, or, in the case of someone acting professionally, the employer of the individual ordering the appraisal is legally responsible for the appraisal fee. Coester VMS recommends that payment arrangements are made before the appraisal is ordered, and that all of the parties involved agree ahead of time who will be paying the fee. Top

The house I need appraised is in a remote location. Can I really get an appraisal done in that area?
Coester Appraisal Group specializes in rural appraisals and has no problem handling these requests. Top

I cannot upload the sales contract. Can I fax it to you?
Yes, you may fax a sales contract to us. Please fax this to 240-306-9542. Top

How does the process work?
Ordering an appraisal through Coester VMS is simple.

1. Place your order for a residential or commercial appraisal anywhere in the United States via our website.
2. Pay for the order or have your borrower pay through the website. (For invoicing/billing options, please feel free to contact us at 888.485.1999)
3. We'll place your order with one of our approved national appraisers.
4. We will work with you side by side until your order is complete. Top

Can I request comparables (comps)?
Yes, we have full time staff appraisers and access to most of the MLS in the country as well as. Top

How much does an appraisal cost?
The pricing for appraisals varies property by property. Please give us a call and we will be have to let you know. 888.485.1999. Top

Do you have an appraiser in my area?
Coester VMS has over 100,000 appraisers that work with us. We only use FHA approved certified appraisers and have no problem using one of our trained appraisers in your area. Top

Can I place my order by fax or phone?
With CoesterVMS.com, we prefer that all orders are placed through our website. If you would like to place your order over the phone, please call us at 888.485.1999. If you would like to place your order by fax, please send it to 240.306.9542. Top

What is the turn-around time?
Coester VMS makes sure the order is placed and scheduled within 24 hours of receiving the order with payment. As soon as the property is inspected, we usually have the final appraisal within 24-48 hours.

If you would like the order rushed, please place the order online and then give us a call to place the rush request. Top

I have an underwriting condition. Where do I send it?
If and when you receive conditions from your lender, please submit the exact condition to our office in the form of an email info@coesterappraisals.com. Please include the address of the property in the subject line. These conditions should be sent over in as clear and specific language as possible, preferably in a bullet point format. We do not charge anything extra for conditions to be completed, unless the appraiser has to make an additional trip back to the property for any treason.

It is our goal to return all revised reports within 8 hours of receiving the condition. If the condition requires additional work or research and it will take longer than the 8 hours to complete, we will inform you of the revised time line.

Types of Appraisals

Uniform Residential Appraisal Report - URAR (FNMA 1004 / FHLMC 70):

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD), based on an interior and exterior inspection of the subject property. This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project.

Exterior-Only Inspection Residential Appraisal Report- Drive-By (FNMA 2055):

This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development (PUD), based on an exterior-only inspection of the subject property from at least the street. This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project.

Manufactured Home Appraisal Report (1004C) :< br />
This report form is designed to report an appraisal of a one-unit manufactured home; including a manufactured home in a planned unit development (PUD) based on an interior and exterior inspection of the subject property. A Manufactured home located in either a condominium or cooperative project requires the appraiser to inspect the project and complete the project information section of the Individual Condominium Unit Appraisal Report or the Individual Cooperative Interest Appraisal Report and attach it as an addendum to this report.

Small Residential Income Property Appraisal- Multi-Family (1025) :

This report form is designed to report an appraisal of a two- to four-unit property, including a two- to four-unit property in a planned unit development (PUD). A two- to four-unit property located in either a condominium or cooperative project requires the appraiser to inspect the project and complete the project information section of the Individual Condominium Unit Appraisal Report or the Individual Cooperative Interest Appraisal Report and attach it as an addendum to this report.

Individual Condominium Unit Appraisal Report (1073) :

This report form is designed to report an appraisal of a unit in a condominium project or a condominium unit in a planned unit development (PUD) based on an interior and exterior inspection of the subject property. This report form is not designed to report an appraisal of a manufactured home or a unit in a cooperative project.

One-Unit Residential Appraisal Field Review Report (2000) :

A lender uses this form for the spot-check appraisal component of its quality control process. This appraisal field review report is intended to provide the lender/client with an opinion on the accuracy of the appraisal report under review.

Multi-Family Residential Appraisal Field Review Report (2000A) :

A lender uses this form for the spot-check appraisal component of its quality control process. This appraisal field review report is intended to provide the lender/client with an opinion on the accuracy of the appraisal report under review.

Residential Final Inspection (442) :

The lender uses this form to document that an architect or engineer has reviewed a new project and has certified that the project has been completed in accordance with the plans and specifications (or that any incomplete items are minor and do not affect livability).

Operating Income Statement (216) :

The lender should use this form to determine the amount of operating income that can be used in evaluating the applicant's credit on applications for conventional mortgages that are secured by one-family investment properties and all two- to four-family properties (including those in which the applicant occupies one of the units as a principal residence).

Single-Family Comparable Rent Schedule (1007) :

The lender uses this form to obtain the market rent for a conventional single-family investment property from the appraiser. Top

Source of information * All information listed in this section is up to date as shown on the Fannie Mae website* Appraiser Questions

How will I be paid for my work?
Coester VMS will send a check for completed orders on a rolling 30 day pay period. What this means is that you can expect Coester Appraisal Group to process and cut a check for each order completed 30 days after its completion. Example: If you complete a report on December 15, 2011 you can expect to receive an email alerting you that your check has been processed and mailed on January 15, 2012. Top

I have not yet inspected the home. While I am not yet sure of the home’s value, the borrower's estimate of value is outside of the range of reasonable values. What should I do?
If you have not yet completed an inspection of the subject property, please sTop, and notify us of the problem. There are several reasons that the customer's estimate of value can be drastically incorrect. Chances are the loan officer is completely unfamiliar with the subject property and market and we want to keep them well informed and treated fairly at every stage of the process. Select the order from your dashboard and click on the " there is a problem with this order" link. If you have already inspected the property, or if you feel you need to inspect the property in order to be reasonably sure of the a possible range of values, then proceed with the inspection and inform us if you still find that there is a drastic difference in value. Top

Is there any way I can be guaranteed a certain number of appraisals a month? How about all of the appraisals in my area?
The number of assignments an appraiser receives is dependent on several conditions. Appraisal assignments will be offered to those appraisers that are closest to the subject property, have the fewest number of outstanding orders, and many other factors. If you happen to work in an area where a large volume of appraisals are being ordered, check your e-mail regularly, and complete assignments in a professional and timely manner you will be offered more orders than someone who does not meet these criteria. Top

Login and Password Problems What if I can't remember my username?
If you cannot remember your username, click the link on the homepage for "forgot username/password" and it will ask your to enter your email address used to create the account. Once you click submit, it will email your password to you momentarily.Top

What if I can't remember my password?
If you can't remember your password, click the "forgot username/password" link on the home page to reset your password.Top

How do I change my username?
If you would like to change your username, please call us at 888.485.1999 and one of our representatives will be able to assist you.Top

How do I change my password?
To change your password, go to the "My Account" section once logged in and there is a link to change your password. Top

Unable to login/Register?
I am unable to login to the extra site, what can I do to resolve this?

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Now go to your PRIVACY tab and at the bottom you should have a button that says SITES... type in etrac.biz and click ADD and then click the ADVANCED button (still under the privacy tab) and check off OVERRIDE AUTOMATIC COOKIE HANDLING and also check off ACCEPT 1ST AND 3RD PARTY COOKIES AND ALWAYS ALLOW SESSION COOKIES and then click CLOSE.

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