Customary And Reasonable Fees

[DJD85339]

I just did an appraisal in there. The MLS listings actually lie, or say that DEGM can or may be included. Sometimes the DEGM is included, but under a separate contract. What even makes it more complicated is that you have vacant lots selling for less than $300,000 with the DEGM ($325,000) INCLUDED!

So you have to do 2 appraisals. You have to do an appraisal of how much the DEGM is worth (There is also a cheaper one avaialble) and how much the house is worth. You should get paid for two appraisals.

Yeah... and for the sorry sap that does do the appraisal for 365... SUCKER!!

I hate dealing with the snooty guards up there anyway... due you are a guard... you dont liv in thise homes...

 

[prasercat]

I just did an appraisal in there. The MLS listings actually lie, or say that DEGM can or may be included. Sometimes the DEGM is included, but under a separate contract. What even makes it more complicated is that you have vacant lots selling for less than $300,000 with the DEGM ($325,000) INCLUDED!

So you have to do 2 appraisals. You have to do an appraisal of how much the DEGM is worth (There is also a cheaper one avaialble) and how much the house is worth. You should get paid for two appraisals.

A reasonable fee is determined by the appraiser (you) and how much you have to be paid for your time and expertise - only you can decide what is reasonable. What is customary is a statistical interpretation of a pool of individual appraiser decisions on various appraisals. It is doubtful that an R&C fee promulgated by any statistical source would have such a degree of fine detail that it would determine what an R&C fee should be for a specific subdivision or community. Also, it will never be able to fully apply to all appraisers, especially, those involved in specialty work or unusual assignments, which require special knowledge; however, that market generally has less skippy competition.

It would be wrong to expect a solution to all issues with an R&C fee approach, it should only serve to reduce the degree of fee abuse by the big players. My impression is that when they get used to paying an R&C fee, more respect will come our way along with more fee flexibility. Respect follows power and real protection from abuse by the government will show our worth in the process and give us more power in directing our professional business. As it currently stands, my impression is that for some of the big players we have a sign painted on our foreheads that reads something like "kick me, I'm an appraiser" "I'll work for crumbs, just give me the assignment" "If I wasn't an appraiser, I'd be cleaning toilets", etc.

Anyway, I'm going back to work now.....

 

[cdeyoung20]

Federal bureaucrats can read? They must be Yankees.....the smartest people in the world !!

LOL[/QUOT

 

[OSU Beavers]

... alamode survey of fees at: http://www.appraisalpress.com/news/articles/state_and_regional_fee_comparison/

...Alamode indicated that their fee survey did not include supplemental requests; such as, the 1004MC form; and they were very careful to exclude these types of assignments in the data. However, when I have received an assignment by a bank that was at $375, or when I requested a fee increase and it was adjusted, there was a message on Mercury Network that the fee was above the median for my area (their median indicates $350); however, it had a 1004MC with it, like practically all 1004 appraisal assignments. It appears to be an inconsistency.

Those a la mode fee surveys appear to be 10% to 20% lower than what appraisers are accepting.


Greg, would you please post the published appraisal fee schedule for VA appraisers pdf or let me know where they can be downloaded? Thank you.

Found it http://www.benefits.VA.gov/stpetersburg/cv/docs/SPT_FeeSchedule.pdf

 

[saxon]

Has anybody heard a peep out of any of these dirtbag AMC's regarding customary and reasonable?