Coester Review Work

[REvaluator]

Has anyone been approached to do retro review work for Coester Appraisal? I am approved with them and received an email about doing retrospective review work, I asked for more info and received an email with three attachments of instructions and guidelines and stating the "average" fee is $250 to $300. I asked why any one would do a retro review for less than a 1004 and was told that there were "thousands of appraisers doing them for that" and that "they must be more hungry than you". Nice. Taking advantage of "hungry" appraisers....I really thought they were one of the 'better' AMC's...NOT!

I told them good luck and you'll probably get what you pay for.

 

[Michigan CG]

Brian Coester will probably be one of those AMCs claiming that there is a shortage of appraisers.

http://appraisersforum.com/showthread.php?t=184976

I am doing a retro review right now. The fee is $550.

I would NEVER work for Coester, his company is part of the problem.

 

[gregb]

No surprise, Coester has "...

Set Pricing
Our predetermined fee schedules are enforced across the nation allowing your company to quote accurate fees."

A lender's dream, no surprises as to fees, no matter what type of property or complexities involved.

http://www.coesterappraisals.com/page.php?page=why

 

[Ca Ar Independent]

Has anyone been approached to do retro review work for Coester Appraisal? I am approved with them and received an email about doing retrospective review work, I asked for more info and received an email with three attachments of instructions and guidelines and stating the "average" fee is $250 to $300. I asked why any one would do a retro review for less than a 1004 and was told that there were "thousands of appraisers doing them for that" and that "they must be more hungry than you". Nice. Taking advantage of "hungry" appraisers....I really thought they were one of the 'better' AMC's...NOT!

I told them good luck and you'll probably get what you pay for.

Had am AMC in California tell me the same thing when I refused to do a 1004 for the $245 they paid. They rudely told me "maybe when he's not so busy he'll work for us". That was many years ago and no, I won't.

 

[Terrel L. Shields]

They rudely told me "maybe when he's not so busy he'll work for us".

I would reply, "I'm never going to not be that busy no matter how slow it is."

 

[J Grant]

I did one job for Coestar months ago, the fee was decent for a 1004, but I had to chase them months to get paid. That told me everything about them I wanted to know. I now ignore their emails about needing appraisers for review work etc.

Imo, any appraiser who does retro review work for any of these firms for lowish fees, I actually want to encourage it. Why? It means less competition for me in the future, it's a great way to get sued or your license in jeopardy down the road. Do the desperate, or greedy appraisers jumping on this retro review work have any idea what they are taking on? Besides the copious exhibits, a good number of these will end up in litigation. They are often ordered for buybacks of loans for PMI, Fannie, or other parties, and the apprasiers who prepared the OR, right or wrong, may be hiring attorneys to go after the reviewers. Go ahead, people, sign up, do as much of this work as you can manage!

 

[panappr]

Brian is my Hero.

With a database of over 39,000 appraisers with an average of 14 years of experience, Coester Appraisal Group does not accept work from trainees, all of our appraisers across the nation are well informed of appraisal rules and regulations and specialize in the counties in which they appraise. Our appraisers are willing to go the extra mile by working weekends, early mornings and even holidays to find a way to get the appraisal done or exhaust all possibilities. Rush orders are also available, if needed.

What a Guy.....

 

[NORTON]

I did one job for Coestar months ago, the fee was decent for a 1004, but I had to chase them months to get paid. That told me everything about them I wanted to know. I now ignore their emails about needing appraisers for review work etc.

Imo, any appraiser who does retro review work for any of these firms for lowish fees, I actually want to encourage it. Why? It means less competition for me in the future, it's a great way to get sued or your license in jeopardy down the road. Do the desperate, or greedy appraisers jumping on this retro review work have any idea what they are taking on? Besides the copious exhibits, a good number of these will end up in litigation. They are often ordered for buybacks of loans for PMI, Fannie, or other parties, and the apprasiers who prepared the OR, right or wrong, may be hiring attorneys to go after the reviewers. Go ahead, people, sign up, do as much of this work as you can manage!

Isn't that a possibility in any review assignment?

 

[Roy Courtney]

Isn't that a possibility in any review assignment?

I am sure it is a possibility in any review assignement. IT IS AN ABSOLUTE GUARANTEE in others! Review at your peril! Ask your E&O if and how they will defend this suit?

 

[NORTON]

I am sure it is a possibility in any review assignement. IT IS AN ABSOLUTE GUARANTEE in others! Review at your peril! Ask your E&O if and how they will defend this suit?

If a reviewer dis-agrees with value based on flawed comparable selection which skewed the original opinion of value, what justifiable stance would the original appraiser take when sueing the reviewer?