just do whatever they want

[SANDY]

Con tracts,

they are written to be broken and ifn ya wants ta Enforce It, me hopes ya gots DEEP Pockets. $250 / $450 / $850 - take the Top Earner there.....$850, you will probably wind up with about 3-4 hrs of a decent attorney's time, and then start diggin. Ifn ya figure your net profit at; $200 on that deal it's a looser right from stage one.

Good luck on the "Con Tract" Issue, the only reason the Lenders do it.....they have Deep Pockets and everybody else's Money. Not one dime of their profit is ever used.

In case ya'll haven't faced up to it, we lost the battle along time ago (bought 10 years back) and they could care less.

Good point-COD requirement is mo better than any stinkin contract. I gots my money for the appraisal that was completed and sent per your original order so if ya wants more then send mo $.

 

[Mike Kennedy]

"Appraiser to comment on foreclosures in the subject's market area and the resulting effect on market values. Provide detailed documentation to support all comments."

:icon_idea:Was this market factor addressed in Market Conditions Comments in the report?? Refer client to specifics in the report. If not.....revise the Addendum and resend.

 

[Mike Garrett RAA]

I am more than willing to do extra work for extra money.

 

[PBKlingensmith]

I think we are missing the point of the OP post. The broker asked for a new (recent) or pending sale. When seeing the actual stip from the underwriter this was not what the underwriter was asking for at all...

 

[c w d]

Contracts are only enforceable through litigation if one or both parties chooses to breach the contract. However, contracts do serve to protect one's interests concerning the assignment at hand because one's actions are spelled out. The problem with engagement letters like anything substantial in this business is our clients would rather find another appraiser who doesn't require such "ludicrous" (their words, not mine) requirements. Ultimately, the signed engagement letter is a feature that loses one business as does USPAP compliance, reporting adverse conditions and opining an honest opinion of truth based on relevant data.

We've attempted to get clients to sign an engagement letter. So far we're zero for ten attempts. And, we're ten for ten lost potential clients. Webbed, while I respect, appreciate and sympathize with your argument, the facts leave little doubt that requiring a signed engagement letter is part of an equation to little if any business.

 

[Alison Swain]

I think we are missing the point of the OP post. The broker asked for a new (recent) or pending sale. When seeing the actual stip from the underwriter this was not what the underwriter was asking for at all...

That was my interpretation also.

 

[starmansf]

pbk,

That's right; but the engagement letter question is important. I see this all the time here. I have nothing against the concept, it just sounds like a little too much for our clients to handle. It's sort of like a web site that asks them to sign-in. Why bother?

When somebody sends me an appraisal order I treat that as a contract.

 

[Webbed Feet]

Webbed Feet,

Thank you; but isn't an appraisal order form a contract for services?"

Mr. Foley,

In any sense of the word, and given all the issues appraisers are having, ... barely.

Webbed.

 

[Webbed Feet]

Webbed,
I would love to see a contract that you send. Also, please tell me the order in which you accept an assignment, set a fee and have the client sign the contract. Is this faxed to them?
I would imagine, from your posts, that you have this down fairly well. I have fumbled with this proceedure a few times and have gave up on the engagement letter unless it is for non lender work, then it seems to be that it is easier.

Thanks

AOD,

eContracts happen to be valid in court. All you need to do is mark your header line to read "E-Contract Intended." In fact, I would rather say it is our duties to make sure we have clarified the Intended Use, Intended Users, Client, and SOW. An email to do so desiganted as an E-Contract with return acknowledgement is all it takes. So after I discuss with a client I always email them, with response requested accepting the terms, an E-Contract that identifies all the things I am required to under USPAP and any other parameters I require. So do other local appraisers I work with from time to time. So this is not impossible.

Our entire industry has a choice to make. Operate profitably or not. The current schlocky lack of formality with a "Please don't hurt me" childlike trust your competition is using, therefore making you appear to be the difficult one to get along with, is going to be the death of them all.

Webbed.

 

[starmansf]

Yes, appraisers do have a lot of issues. If you don't even know how to get started there's a problem.