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E & Ohhhhhhhh!

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kwrass

Freshman Member
Joined
Apr 1, 2008
Professional Status
Appraiser Trainee
State
Ohio
Just got a quote for E&O 500/500 for $2,400. I heard a friend of mine got a quote from this same company for himself and his trainee for $,4,400. I called and said to the lady after she gave me the quote, "What? Why is that so high?" She said, "It just depends on what company you go with."

Hope this is not some kind of new trend coming down the pipe. Got a much better quote from Landy...
 

AJL118

Member
Joined
Jul 29, 2005
Professional Status
General Public
State
Florida
Are you kidding?

You and that insurance peddler better divorce. Our certifieds are paying about $550.00/yr for 500/1000. Babe, better come out of the woods.
 

Carnivore

Elite Member
Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
H Landy charged me this year $586 for 1,000,000/2,000,000

I have been with them for quite awhile. Maybe that makes difference
 

Damon Pedersen

Junior Member
Joined
Jan 18, 2002
Professional Status
Certified General Appraiser
State
Iowa
Was this with LIA? I am waiting on my quote from them for this year. Submitted my info a month ago.
 

REMREALTY

Freshman Member
Joined
Aug 7, 2007
Professional Status
Licensed Appraiser
State
New Jersey
does the FHA/HUD have minimum e & o limits to do work for them? I.E. - is 500/1000 ok or do you need 1000/2000?
 

Lloyd Bonafide

Senior Member
Joined
Jan 15, 2006
Professional Status
Certified Residential Appraiser
State
California
H Landy charged me this year $586 for 1,000,000/2,000,000

I have been with them for quite awhile. Maybe that makes difference

In CA we pay $733 for the same coverage. It's been the same for the last 2-3 years.
 

kwrass

Freshman Member
Joined
Apr 1, 2008
Professional Status
Appraiser Trainee
State
Ohio
It was with 5Starappraisers aka Hilb Robal & Hobbs. It was quoted for Ohio.
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
does the FHA/HUD have minimum e & o limits to do work for them? I.E. - is 500/1000 ok or do you need 1000/2000?

HUD/FHA does not required E&O. The lender may, but not HUD/FHA.
 

Michigan CG

Moderator
Staff member
Moderator
Joined
Nov 1, 2006
Professional Status
Certified General Appraiser
State
Michigan
H Landy charged me this year $586 for 1,000,000/2,000,000

I have been with them for quite awhile. Maybe that makes difference

$628 for $500,000/$1,000,000

Maybe I am higher because of commercial......
 
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