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Cancelled orders.

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Michael Irvine

Thread Starter
Freshman Member
Joined
Apr 2, 2002
Should I be paid if a lender puts an order "on hold"? In other words the company I work for sends over an order for an inspection, I do my research, pull my comps, show up on time, do the inspection, drive and photo the comps and as I am heading for the next appointment the office calls and says stop what your doing on that inspection, the order is on hold. I don't know any of the details, apparently it fell out of escrow, who knows. Looking at it from the owner's point of view, he didn't get paid so why should I? From my point of view I could have been writing a report for another inspection during that time. Am I unreasonable or is this just part of the business? By the way this is one of his better customers, so he won't charge a cancellation fee. I don't want to seem greedy it's just a really touchy subject.

Thanks
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Its your call. Diplomatically discuss it with your lender. You do not want to lose a client, but you deserve a "trip" charge for your time. Most major lenders will pay you this fee. Many small lenders will not. Is it worth it to lose a $20-30,000 a year client? Is your client understanding that you do not work for free? Make a business decision and learn from that decision.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
Here's how I see it....lately I've been having to work most weekends.
So I figure that inspection ($100) and getting to the valuation
point ($100) kept me from going to the
mountains, chop firewood, and watch college
football games. So I have no problem charging
for that canceled appraisal. I might let one slip
for my very biggest clients, but not some little
no-name mortgage broker or appraisal management
company.

RESPECT

elliott
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
It depends on when it is cancelled. We receive the request and it is cancelled before much work is done on it - no charge. We research the comps and do an inspection- we charge a half-fee for inspection, etc. Not making value - 3/4 fee. It all depends on the amount of work. I don't work for free.

Roger
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
3/4 fee for not making value? You really posted that here?
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Y is there such a problem in the Appraisal PROFESSION ?? Hmmm
 
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