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  #1  
Old 07-21-2009, 07:32 PM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is offline
 
Join Date: May 2002
Location: Springtown, AmeRica
State: Arkansas
Professional Status: Certified General Appraiser
Posts: 40,692
Default New Appraiser Lien Law

Arkansas has replaced the old lien law with a new one that covers more ground but will require a WRITTEN contract for services and will require the homeowner be made awares of the law with a disclaimer... Not a good thing. Will make it very difficult to collect - i am very disappointed.
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Last edited by Terrel L. Shields : 02-27-2010 at 10:21 AM.
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  #2  
Old 07-21-2009, 08:17 PM
Mike Kennedy's Avatar
Mike Kennedy Mike Kennedy is offline
 
Join Date: Sep 2003
Location: Southern Hudson Valley
State: New York
Professional Status: Certified Residential Appraiser
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"Will make it very difficult to collect"

Pages 2 & 7. (edited to Appraiser relevant)

Page 2

10 18-44-105. ....Lien of .......,
11 ........, appraiser, ........
12 (a) Every .....
13 appraiser, .............who shall do or
14 perform any ......
15 ........., appraisal, ..............
...........
17 ., ........or by virtue of
18 any contract or written agreement for the performance of the work with the
19 owner thereof, or his or her agent, shall have a lien upon the land,
20 building, erection, or improvement upon land to the extent of the agreed
21 contract price or a reasonable price for those services.

22 (b)(1) However, the lien does not attach to the land, building,
23 erection, or improvement upon land unless and until the lien is duly filed of
24 record with the circuit clerk and recorder in the county in which the land,
25 building, erection, or improvement is located.

Pg 7.
1
2 I UNDERSTAND THAT EACH ....... APPRAISER, ..........SUPPLYING SERVICES, ......IS ENTITLED
5 TO A LIEN AGAINST THE PROPERTY IF NOT PAID IN FULL FOR THE SERVICES,

8 .... I REALIZE THAT THIS LIEN CAN BE ENFORCED BY THE SALE OF THE
9 PROPERTY IF NECESSARY.

The above is a disappointing thing???
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Last edited by Mike Kennedy : 07-21-2009 at 08:24 PM.
  #3  
Old 07-22-2009, 12:31 AM
Terrel L. Shields's Avatar
Terrel L. Shields Terrel L. Shields is offline
 
Join Date: May 2002
Location: Springtown, AmeRica
State: Arkansas
Professional Status: Certified General Appraiser
Posts: 40,692
Default

Compared to the old law that didn't require that statement to be included in the engagement letter. Many lenders will balk at signing that. The old law did not require such a statement and did not require the pre-filing notices nor did it give them license to fine you $1000 if you screw up the filing.
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"Bigamy is having one wife too many. Monogamy is much the same." Oscar Wilde
  #4  
Old 07-22-2009, 11:28 PM
conwayblue conwayblue is offline
 
Join Date: Nov 2003
State: Arkansas
Professional Status: Certified Residential Appraiser
Posts: 143
Default

They should have just titled it "No liens for bank or lender related work". I've never met a bank or mortgage professional that would sign such a statement.
  #5  
Old 07-27-2009, 09:13 AM
Rice Brewer's Avatar
Rice Brewer Rice Brewer is offline
 
Join Date: Dec 2004
Location: Fayetteville & Fort Smith, AR
State: Arkansas
Professional Status: Certified Residential Appraiser
Posts: 854
Default

For all purposes, we have lost our lien law. No agent for an owner or mortgage "professional" would ever agree to sign such a document.
  #6  
Old 07-27-2009, 11:05 AM
EDWARD BERRY EDWARD BERRY is offline
 
Join Date: Jan 2002
Location: NW ARKANSAS
State: Arkansas
Professional Status: Certified General Appraiser
Posts: 1,987
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One Day I Had A Tire Fixed And Charged It.

You Should See The Fine Print On The Back Of The Ticket. Real Lien Law.

Appraisers Have No Voice In Anything But To Pay, Pay, And Pay To Play.


Ed
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