The Ugly Truth About Appraisal Fees

Look, I’m not a complainer and I am a total optimist, but this is not okay on so many levels.

I had a bad experience with an AMC recently and I want to share it. This is not because I’m wanting to rant or be negative, but only to highlight some of the ugliness that happens behind closed doors when it comes to appraisal fees during loans…

I was asked to appraise something challenging, so I quoted a fee that was higher than a standard fee in Sacramento but still reasonable for the job because the house was funky. Anyway, I was comfortable with the fee and it was accepted by the AMC (Appraisal Management Company) that the lender hired to manage the appraisal ordering process. But then things got interesting because through the course of the transaction someone showed me an email from the loan officer where I learned the AMC was actually charging the buyer $345 higher than the fee I quoted. What the? That seemed excessive, but the real clincher for me was the email showed a chain of conversation with the AMC where they said I was the one who quoted the much higher fee. Not only was the AMC gouging the buyer in my opinion, but there was a blatant lie that I was the one dictating this fee that was 43% higher than the one I quoted… Read more »

Ryan Lundquist

Ryan Lundquist

Certified Real Estate Appraiser & Founder at Lundquist Appraisal Company
Ryan Lundquist has been appraising full-time since 2003. He handle appraisals for estate settlement, divorce, tax grievances, pre-listing, loans and other types of private matters. He currently sits on the Housing Opportunity Committee (Chair for 2016) and Strategic Planning & Finance Committee through the Sacramento Association of Realtors. Ryan is also a board member of the Real Estate Appraisers Association of Sacramento. Beyond work his passions include woodworking, drinking coffee, and spending time with family.
Ryan Lundquist

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Ryan Lundquist

Ryan Lundquist

Ryan Lundquist has been appraising full-time since 2003. He handle appraisals for estate settlement, divorce, tax grievances, pre-listing, loans and other types of private matters. He currently sits on the Housing Opportunity Committee (Chair for 2016) and Strategic Planning & Finance Committee through the Sacramento Association of Realtors. Ryan is also a board member of the Real Estate Appraisers Association of Sacramento. Beyond work his passions include woodworking, drinking coffee, and spending time with family.

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