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Question about a change of form/fee

Discussion in 'General Appraisal Discussion' started by Urbanz, Jun 30, 2011.

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  1. Urbanz

    Urbanz Junior Member

    0
    Apr 18, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    Hey folks, I completed a review on a duplex with the One-Unit Residential Appraisal Field Review Report form 2000, which is what the AMC requested. The appraisal I reviewed was completed using a Small Residential Income Property Appraisal Report form.

    Now the lender is coming back saying it should have been ordered as a 2000A Form. I told them that this is a separate assignment as the scope has changed. They are asking me if there is a fee.

    Now Im a bit confused. Per USPAP, is this a completely new assignment with a new full fee? Or would you charge a partial fee? So I guess it's a two part question, was I right in saying it is a completely new assignment? What would you charge as a fee? I don't want an amount, just if you would charge a full or partial fee.)

    Thanks!
     
    Last edited: Jun 30, 2011
  2. stefan olafson

    stefan olafson Senior Member

    0
    Apr 2, 2003
    Professional Status:
    Certified General Appraiser
    State:
    North Dakota
    I'd charge them a full fee for a review, whatever that fee is that you charge others.

    Don't allow the AMC's or banks to dictate the form to be used, that is your decision as the professional appraiser. We are appraisers and not form fillers!

    Their mistake, make them pay...
     
  3. CANative

    CANative Elite Member

    125
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    I disagree. The 2000A form is for 2-4 unit residential assignment. The OP should have questioned the review order and allowed them to change it to the correct form.

    Re-do it at no charge and chalk it off to a lesson learned.

    Sorry.
     
  4. Urbanz

    Urbanz Junior Member

    0
    Apr 18, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    Thanks for the responses, who is the OP? Order Processor? Also, as I stated above, this was a duplex (2 unit). So Im also still curious, is it a new assignment?
     
  5. CANative

    CANative Elite Member

    125
    Jun 18, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    California
    You are the OP (Original Poster). The 2000A review form is for 2-4 properties and your assignment was a 2 unit property. You should have used the 2000A form. You probably should have questioned the AMC about them ordering this review on the 2000 form and suggested the 2000A.

    No. It's not a new assignment. You're just correcting a mistake.
     
  6. JRS at OBX

    JRS at OBX Elite Member

    3
    Jun 13, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    North Carolina
    1-hit AMC wonder or an AMC that is a pain in the butt...charge them full fee.

    Good regular client, no charge.
     
  7. VolcanoLvr

    VolcanoLvr Senior Member

    5
    Oct 30, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Washington
    I agree with my west coastie brethren....well in reality, a single person.

    Appraisers need to know what is correct and proper for every assignment.

    When WE mess up, WE need to correct our mistake....willingly....and without charge.
     
  8. JamesRockford

    JamesRockford Senior Member

    0
    Oct 22, 2010
    Professional Status:
    Certified General Appraiser
    State:
    California
    Right. The original review should have been completed on the correct form the first time.
     
    Last edited: Jun 30, 2011
  9. AnonApprsr

    AnonApprsr Elite Member

    0
    Jan 21, 2008
    Professional Status:
    Certified Residential Appraiser
    State:
    Massachusetts
    Skippy is right, you should have used the correct form. I would charge the difference between a SF and a MF. 150-200 bucks more.
     
  10. Urbanz

    Urbanz Junior Member

    0
    Apr 18, 2006
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    I should have added that the AMC originally had specifically asked me to say on the review that "Please include a comment that although the property was a small residential income property, the form requested for your report was a FNMA 2000."

    THAT is why I did not question the form. And that is also why I was question whether it was a new assignment when they did eventually ask for a form change.
     
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