Appraiser’s Response to Metro-West
Metro-West Appraisal, thank you for your bulk email solicitation…
I will consider accepting work from you on the following basis:
- My minimum fee for non complex FNMA guideline compliant SFRs is $550 (net). There are no exceptions. Any upload fees or other forms of service charges or ‘convenience’ fees will be added to that fee. I do not accept or authorize discounting of the fee for any reason.
- The premium or surcharge for property with a transaction amount or other characteristic that requires completion by a certified appraiser, is a minimum of $250. However the final bid will depend on the specifics.
- Properties in the multi million dollar range will be bid in a range starting at $2,500+. It is assumed the property complexity will warrant considerably more time.
- My normal turn time is 10 to 14 WORKING days. That is Monday through Friday. If I choose to work on a weekend it is for my own convenience – not yours. Please don’t assume I’m available for your work on Saturdays or Sundays. Some assignments may take longer to complete due to circumstances outside the appraisers control (need for owner to provide permit verification, etc.). When this happens you will be notified by email at the address or through the service you select.
- You must agree in advance that my proof of E&O insurance will NOT under any circumstances be attached to or even forwarded via email outside of your office. E&O does not protect appraisers. It only serves to invite litigation by unscrupulous attorneys that know E&O insurers will almost always settle rather than litigate.
- My state runs a background check every two years at renewal time. If you wish to have any additional checks run it is at your own expense.
- My appraisals are transmitted as a complete report. They are not intended for decompiling, or review, or consideration in any form of abbreviated summary. Doing so relieves me from any and all accountability or losses that may be sustained by you or your clients as a result of making decisions based on only selected portions of an appraisal that is intended to be read in it’s entirety.
- ALL payments must be received in my bank account within two weeks from the date the report is first submitted to you by me.
- I will properly address any potential errors, rebuttals and legitimate appraisal questions posed by the (1) client, or (2) actual underwriter (name and title required), or (3) FNMA provided such inquiry is made in a timely manner.
- I will not respond to any form of “review” that is not fully USPAP compliant.
- It is expressly understood and agreed by your firm that any specific order conditions or guidelines are subordinate to these, should there be a conflict.
- I will usually accept, counter offer or reject proposed orders within 12 hours.
- I will attempt contact with the point of contact you designate within 8 hours of a confirmed order.
- For appraisals involving sale transactions you must provide a final executed contract signed by all parties at the time the order is placed.
- For condominiums an HOA contact must be provided. Additionally prior to completion you must provide an copy of the CC&Rs or articles of Association.
- Scope Creep: any requests for additional data, analyses or services not contracted for up front will be charged at the rate of $150 per hour above the base fee. Feel free to ask for any additional information you wish on this basis.
- I am a professional. In the event that you are unable to comply with any of these terms you may wish to contract with an appraiser who is not.
Your offer and my acceptance of any work from you is deemed to be your consent and agreement to these terms which will supersede any conflicting terms that your own (or clients) boilerplate policies may contain.
PS: This appraisal and written appraisal report is my professional work product. Even the use of public or paid subscription data in the context of this report is professional work product. No part of this report including sale prices, adjustments, conclusions or ratings of particular properties or any other data may be used by the client or other third parties for the purposes of adding to unknown databases without my direct and express consent. I am responsible for assuring that no part of my report will be communicated in a manner that is misleading. In the absence of specific alternative voluntary agreement by myself and you it is agreed that the default fee or “value” for each instance of unauthorized use or data extraction will be at a rate of $150 per page.
Metro-West Solicitation Blast to Appraisers
Subject: Expand your business
From: Metro-West Appraisal
Metro-West Appraisal Co., LLC – 30 Years of Excellence
Concerned with inconsistent workflow? If you’ve grown frustrated with endlessly pursuing new appraisal work and not reaping any of the benefits, Metro-West is here to help. We understand and work to alleviate the pain points commonly felt by appraisers to enable personal and financial growth for our staff. Appraisers’ volume of work is subject to a range of outside factors, which can result in frustrating periods of slowdowns and delays.
Thanks to our relationships with lenders nationwide, staff appraisers at Metro-West can enjoy steady pipelines while growing their business.