• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

$150 for a condo questionnaire?

Status
Not open for further replies.

masmia

Thread Starter
Sophomore Member
Joined
Oct 16, 2007
Professional Status
Certified General Appraiser
State
Florida
Anyone else seen such a high fee for an already prepared document that someone just has to fax?
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Not unusual. Inform the client, increase appraisal fee - or decline the order.
 

DTB

Elite Member
Joined
Jun 11, 2004
Professional Status
Certified Residential Appraiser
State
Illinois
Not unusual. Inform the client, increase appraisal fee - or decline the order.


Decline the order? At this point I think one has quite a bit of time already spent.

Have the client furnish what is their responsibility to provide.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Mike - OP said nothing about a "live order". Amending answer to:

If discovered AFTER accepting an order.......inform client, obtain authorization to bill addtl fee, or bill for time served. Typically we are supposed to INDEPENDENTLY obtain the information ....IF requested and unavailable from the Lender.
 

DonRico

Senior Member
Joined
Nov 26, 2002
Professional Status
Certified General Appraiser
State
South Carolina
This must be a Condo Management Group, right? Trying to increase their revenue stream.

Suggest to these Luddites that by putting such information on their Web-site, they would avoid all the phone calls from those that need the info.

Love the Inter-webs!!
 

Edward OConor

Member
Joined
Apr 27, 2006
Professional Status
Certified Residential Appraiser
State
New York
Anyone else seen such a high fee for an already prepared document that someone just has to fax?

The management agent has the info and can charge what the board will allow them to charge (if the board knows that they are charging). I usually call the applicant and inform them that they need to go pay the fee and to let me know when he/she has paid the fee so that I can then resubmit the request. I am very clear that this will hold up the appraisal since I can not complete the report without the information and the lender will not close the loan without my report.

Please be for warned that an AMC will probably want you to lay out the money and then add it to your fee.
 

TC

Elite Member
Gold Supporting Member
Joined
Jan 31, 2002
Professional Status
Certified Residential Appraiser
State
Pennsylvania
If it's a refi have the owner get the info from the association. If it's a sale have the agent or seller obtain it.

TC
 

Tony V

Elite Member
Joined
Mar 29, 2005
Professional Status
Certified Residential Appraiser
State
New York

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
$150? Good for them. Some businesses charge for their time some don't, some appraisers charge for their time some give free comp checks.
TC said:
If it's a refi have the owner get the info from the association. If it's a sale have the agent or seller obtain it.
Perfect answer.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks