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Client over-paid me

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Doug in NC

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
I just got a check from a mega-bank. They paid me twice for the same final inspection. What do you others do when a client over-pays?
 

JRS at OBX

Elite Member
Joined
Jun 13, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
I call them and return the check.
 

Kevin Mc

Elite Member
Joined
Jun 7, 2004
Professional Status
Certified Residential Appraiser
State
New York
I just got a check from a mega-bank. They paid me twice for the same final inspection. What do you others do when a client over-pays?

call them and tell them to stop payment and shred the check or send it back.
 

Kevin A. Spellman

Senior Member
Joined
Aug 30, 2003
Professional Status
Certified Residential Appraiser
State
Massachusetts
Write “Void” on the check; send it back to the correct person who can receive a return check and also correct the problem.
 

chad hampton

Senior Member
Joined
Nov 10, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
i'd cash it and take comfort in the fact that finally, something came out in your favor.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Elvis says: "Return to Sender" immediately - and GET written confirmation it was received - retain in work file.
 

Thomas Fiehler

Senior Member
Joined
Jun 2, 2003
Professional Status
Certified General Appraiser
State
Ohio
Under most circumstances I would return the check. I currently have one check deposited in my "Mad Money" account and it is for an invoice that was paid twice. A large national bank ordered and FHA appraisal and there was no problems/issues with the appraisal. The only problem was that it took them 11 months to pay the invoice. Their excuse, after almost weekly followups, was that they had already paid an invoice with my file # si I needed to assign it a new number. I did that and about 1 week later I received a check for the new file #. 3 days later I received a chack for the old file #. When they notify me of their mistake I will gladly refund them their money-after 11 months of gaining interest.
 

PropertyEconomics

Elite Member
Joined
Jun 19, 2007
Professional Status
Certified General Appraiser
State
New Mexico
i'd cash it and take comfort in the fact that finally, something came out in your favor.


Stealing can never come out in your favor. Sorry but if this is not tongue in cheek .. it is VERY POOR advice.
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Stealing can never come out in your favor. Sorry but if this is not tongue in cheek .. it is VERY POOR advice.

Agree. Ethics is doing the right thing even when no one is watching.
 

Kali the Boston Terrier

Senior Member
Joined
Jul 7, 2003
Professional Status
Certified General Appraiser
State
Michigan
I agree with PE, what goes around, comes around. Remember USPAP was written to increase public confidence in our industry. If you cannot return money you were overpaid by, what does that say about the rest of your report and your character as a whole...so much for public confidence at that point, might as well just stop following USPAP as well.
 
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