The appraisal process can often be long, complex and incredibly time-consuming. This is particularly counterproductive for the buyer; securing a mortgage and property is usually stressful as they want their own home as soon as possible. It can also be difficult for the lender as after all, they generate revenue through the loans they close.
To solve this problem CoesterVMS have developed a guarantee program called '2-0-0'. They are truly passionate about real estate and committed themselves to improving the overall appraisal service for borrowers and lenders across the country. CoesterVMS desperately wanted to enhance the service for both borrower, buyer, realtor and appraiser so people can acquire a property easier than ever.
Essentially 2-0-0 is an appraisal guarantee program that covers the main problems that usually cause the appraisal process to be so long-winded. Let's look at the three main aspects of the excellent CoesterMer service...
2 Hour Appraisal Schedule:
So, like we've already touched on; the most common issue when organising an appraisal and getting approved for a mortgage is the sheer amount of time it takes. Therefore, with the CoesterVMS 2-0-0 program, you'll be guaranteed of having a point of contact arranged within the first 2 hours of the appraisal being entered.
This kickstarts your appraisal service and will get it started on the right food with a fast tempo. They will work with our scheduling department to ensure the appraisal is scheduled immediately.. Over 90% of our appraisals are scheduled within 8 hours from being entered.
CoesterVMS has excellent coverage across the country and they can works in harmony with all appraisers and borrowers to schedule a convenient time for all parties. Plus, an effective questionnaire is provided to borrower so key details can be obtained, such as acreage, well & septic and complexity.
Following on from the inspection, CoesterVMS will call the point of contact within 1 hour. This is to gather feedback to determine whether the experience was positive or negative. Firstly, any negative feedback is escalated to ensure any issues are addressed before a file is completed.
Secondly, if any positive feedback is received, which is usually the case, it will be passed on to the appraiser immediately. You may not realise it, but this significantly speeds up the process, because the appraiser will be inspired to finalise the files before the specified due date. CoesterVMS have noted that there has been a 15% improvement in file deliveries, and they expect it to rise to 90%.
It is very rare that appraisal files are escalated due to complaints. However, they do occur from time to time. This can be for a variety of reasons such as bad service from an appraiser or a disagreement over valuation. CoesterVMS recognize that between 10 and 15% get escalated.
As a result, they have specialist staff that have been qualified to the highest level to ensure they get dealt with quickly and diligently. Now, if CoesterVMS fail to meet their SLA or provide real-time communication regarding any delays they will immediately offer a full and immediate refund to the borrower.