Appraisal Request Forms

[Ron D. in NWA]

I would like the opinion of the group. Could the following statements and signature block be put on the bottom of an Appraisal Request Form to clarify some of the responsibilities of the Client,,, or is this just a waste of time and paper. Also please pick it apart if it needs it, I have pretty thick skin.

Thanks
Ronnie

By signing this request, I have requested an appraisal of the above referenced property from the zzz REAL ESTATE APPRAISAL CO and
JOHN DOE (OWNER) OF zzz REAL ESTATE APPRAISAL CO.

The purpose of this appraisal is to form an opinion of the market value of the property in accordance with the scope of work which will be outlined in the report. The appraisal is to be developed and prepared in accordance with USPAP (the Uniform Standards of Professional Appraisal Practice).
I (the client) understand that the “USPAP ETHICS RULE” prevents an appraiser from accepting an assignment, or to have a compensation arrangement for an assignment, that is contingent on any of the following rules, and I have not, or will not, request the contracted appraiser to violate these rules:
1. The reporting is of a predetermined result.
2. A direction in value that favors the cause of the client.
3. The amount of a value opinion.
4. The attainment of a stipulated result or:
5. The occurrence of a subsequent event directly related to the appraiser’s opinion and specific to the assignment’s purpose.

Accordingly, I agree that payment for services shall be remitted in a timely matter, and that in compliance with USPAP, said payment is not contingent upon any predetermined value conclusion.


Printed Name: __________________________________________


Date: ____________________________



Signature: ______________________________________________

 

[hastalavista]

Ronald-

I see no problem with it.
My experience is that those "clients" who are not willing to fill out my specific request form are ones I do not want to have dealings with anyway.

 

[Alison Swain]

I think that I would put in a specific time limit on when payment should be received (30 days?) and add that payment is not contingent upon successful closing of the loan.

 

[icisic7]

Alison, that's a good thought.

 

[spittman]

Looks good to me.
You can put (CAD____; Invoiced-30 days____) next to the signature date.

 

[xmrdfghap]

What we use:

I, _____________________________ of_______________________________ (Company)
____________________________________(Address)____________________(City, State, Zip)
_____________________(Phone)_________________(Fax) ______________________ (Email)
hereinafter called the Client, request an appraisal on the following property:
The purpose of the appraisal is ___Purchase, ___Refinance, ___Pre-listing, ___ Pre-purchase,
___Estate, ___Divorce, ___Condemnation, ___Tax
Other:
The type of appraisal is ___1004 ___ 2055 ___Income ___Multifamily ___MH ___FHA
Other:
and shall consist of all documentation necessary to support the value determined for the purpose
checked above. The total fee for the service stated above is $_____________ and shall be paid
$_____________ at the time the appraiser measures and/or views the property with the balance of
$_____________being paid by the Client at closing or within 30 days of delivery of the appraisal
report to the Client, whichever comes first. Client further agrees that there shall be a servicing fee
of $75.00 if the above fee is not paid in accordance with the above terms and that any cost of
collection of all the above fees shall be borne by the Client.
Client agrees that the appraiser has no present or contemplated future interest in the subject property
and neither current or future employment or compensation is contingent on the appraised value of
the subject. Further, the Client agrees that the appraiser is not required to report a predetermined
value or direction in the value that favors the cause of the client or any related party, the amount of
the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in
order to receive compensation. This order is not a request for a minimum value, a specific value, or
the need to approve a specific mortgage loan or for any other purpose.
Client agrees to the above agreement and conditions:

 

[Mike Garrett RAA]

Good luck! Most request I receive are automated.

 

[Ron D. in NWA]

Thanks for all the suggestions. I am mainly using this for the individual orders that I will get from over the phone or referrals.
Ronnie

 

[jay trotta]

MG - agreed, but it should also be the "Clients" responsibility to apply most of what is written here in their Order forms.

They will always put in the comment about GLB, but slack off on other responsibilities. IE: Supply appraiser with any info they already have.

The time is here once again to know the "payment schedule" - don't just "sign & drive" - the economy which has been supportted by the Housing market is way off; Lenders are feeling the pinch and will be looking to steal what they can to keep alive - You are only a pea in the sand.