Valuation Support Services (VSS) Appraiser Panel Agreement
Appraiser will indemnify and hold harmless VSS…
Frank Gregoire, with Appraiser Active Blog, added a post yesterday about AMC Appraiser Indemnification. Valuation Support Services (VSS) Standards & Approval Documentation Requirements and their Appraiser Panel Agreement can be accessed in Frank’s post here.
Here’s a snippet below:
Page 4:
Conviction of Crimes: VSS is unable to enter into associations with individuals, who have been convicted of or plead guilty to any crime involving dishonesty or breach of trust, or have been convicted of or plead guilty to any felony or misdemeanor. Appraiser warrants he/she has truthfully and accurately answered the “Additional Information” questions on the VSS Appraiser Application, has provided full disclosure through letter(s) of explanation for all questions answered affirmatively. Appraiser acknowledges and agrees he/she will be directly involved in providing services in accordance with this Agreement and has met this standard.
Of course, on Page 9:
Indemnification: Appraiser will indemnify and hold harmless VSS, a division of RELS, LLC, and each VSS entity for any liability arising out of Appraiser’s work product or for the release of any appraisals without VSS’ permission. Appraiser is liable for payment of any legal fees, claims, damages, losses and liabilities resulting from Appraiser’s work product or non-performance of the duties and obligations identified herein.
One of the best, however, is the requirement on Page 2:
Appraiser (signature)(Requires Digital Signature to be uploaded.):
All very interesting. Also interesting is the number of Florida Appraisers asked to send in a copy of a digital signature to OK this agreement, given the fact that VSS is NOT currently registered as an Appraisal Management Company with the Division of Real Estate or the Florida Real Estate Appraisal Board. The MyFloridaLicense site does not show an application in process either. Does this outfit look like a Management Company for Appraisal Management Companies?
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To think that there are appraisers out there desperate enough to deal with this BS! Anybody signing this agreement is an idiot. I would rather clean toilets then work for this outfit!
VSS will also blacklist an appraiser on a whim. We should boycott them until they get it straight. They treat their appraisers like cattle.