al002kim
Sophomore Member
- Joined
- Nov 30, 2007
- Professional Status
- Certified Residential Appraiser
- State
- California
I've got an refi order from lender and submitted accordingly but inthe same day, they asked me to include REO addendum... I know this is only a page addendum, but in my opinion, this should be a new scope of work, there will be a need to re-inspect the property "in details" for any deficiency (such as smoke detectors in bedrooms) and also a need for new listing comparables in the area. And also, the lender never told me the property is in process of foreclosure or such, and I didn't notice any NOD in the public records...
Should I tell them this is a new appraisal assignment and charge another fee or just include a REO addendum and add an additional fee?
Thanks in advance!
Should I tell them this is a new appraisal assignment and charge another fee or just include a REO addendum and add an additional fee?
Thanks in advance!