Appraisal appointments are one of the biggest reasons for loan delays
Appraisal management company Valuation Partners has rolled out HomeBase, a tool that provides all parties involved in a residential transaction with real-time access to details about the appraisal appointment.
Valuation Partners has access to more than 10,000 independent fee appraisers in all 50 states.
HomeBase is available through a secure link and provides details including information on the appraiser, the appraiser’s name and contact information, the kind of vehicle they drive, as well as information for buyers and sellers about what to expect when the appraiser visits the property.
“Appraisal appointments are one of the biggest reasons for loan delays because they require coordination between multiple parties,” said Clint Reinhardt, Valuation Partners’ senior vice president and national account manager. “HomeBase not only reduces the risk of delays by adding transparency to the process, it gives home sellers the peace of mind that the person who shows up at their home to appraise it is supposed to be there.”
Aside from appointment details, the tool also offers all parties in the transaction a single point of contact to verify details about the appointment and the appraisal order. The tool is available on all Valuation Partners appraisal orders and is accessible to lenders, real estate agents, the selected appraiser, and home buyers and sellers.
“There is a lot of juggling that goes on when setting appraisal appointments, which means there are a lot of opportunities for miscommunication,” CEO of Valuation Partners CEO Bill Fall said. “HomeBase ensures that all the appointment details are in one place and everyone has access to them, which dramatically reduces delays and ensures a more efficient process. There’s no tool on the market like it.”
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