GotAppraisals.com APPRAISAL MANAGEMENT SERVICES A Proactive Approach to Home Valuation David Barnes Sr. Relationship Manager Ultimate Mortgage Expo Atlantic City, N. J. June, 2013

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Todays Topics Benefits of understanding potential value up- front How to leverage that knowledge Structuring the deal around potential value Positioning yourself as the expert Realtor-based business

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Appraisal Issues Appraisals ruining your deals Unrealistic value expectations Price adjustments due to LTV/CLTV

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Understanding Potential Value What does the borrower think the home is worth (or purchase price)? What do you need the home to be worth to make your deal? Is there anything going on with the subject property that could impact its value or your loan (i.e. deferred maintenance, permit issues, unique situations, etc.)?

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Why Let Value Kill Your Deal? Have a good idea of potential value while packaging the deal You need something more accurate than a BPO or an AVM and that is cost effective Knowledge is POWER!

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Leverage Your Knowledge Educating your client Setting realistic expectations for you and your client You are the mortgage expert

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Structuring The Deal Best and worst case scenario –Will the deal still work? Cash to close Mortgage insurance Potential for a rate increase due to LTV/CLTV

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES You ARE The Mortgage Expert Creating long-term relationships and referral-based business Stand above ALL of your competition

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Realtor-Based Business Knowing up-front if there will be potential value issues with purchase transactions Make your agent look great! If there is an issue, get out before contingencies are up.

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES & Now Introducing!

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES The interactive AVM, compared Standard AVM: –Low cost, automated estimate of market value –Automation is a shortcoming GotVal and GotVal Plus interactive AVMs: –Start with an AVM –Add insight from trained staff members –More accuracy, without losing speed or economy

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Interactive AVM Geo-statistical formulas and analytics Multiple data sources Confidence scoring, plus additional data Trained staff* intervention to adjust subject and comp criteria Elimination of sales data that is not pertinent *Trained staff is not necessarily an appraiser.

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Interactive AVM

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Interactive AVM

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES All of the benefits of GotVal, AND… Property inspection report Exterior Photos Interactive AVM

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Interactive AVM

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Interactive AVM

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Interactive AVM

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Interactive AVM

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES The Professional Abbreviated Report (PAR) Completed in hours Done by local certified appraiser –Direct knowledge of the subject neighborhood. Order full appraisal within 10 days –Get $50 off –Will be completed by the same appraiser.

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES The PAR Advantage Fast Always done by a local appraiser Always USPAP-compliant Save money on follow-up appraisal Full-time support staff to answer questions No conflict of interest with broker agenda Photos of subject and comps available High accuracy

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES PAR

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES PAR

GotAppraisals.com APPRAISAL MANAGEMENT SERVICES Thank You! By doing a little homework up front in properly qualifying your collateral, you can save yourself and your borrower a lot of frustration, time and money. You will have better quality loan packages and much happier clients. If you have any questions contact: