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Engagement Letter/contract

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Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Just walked out of small claims court, first one that has actually gone to trial. I won the case but I lost my claim on interest because of I did not have a written agreement/contract with my client (an inDUHvidual).

I rarely have a problem with individuals paying. Normally I collect up front but sometimes I have a job I don't or can't collect up front. For example I did a big narrative appraisal and my fee was an hourly rate.

My buddy and I were talking about how we need a very simple engagement letter that takes the word of mouth out of all appraisals performed for individuals. Anyone use one? Would you be willing to share it?

Things I think it should address are payment and terms (of course). Something like the scope that says what will will do and won't, and for what purpose the appraisal is performed.

I am sure there are other areas that should be addressed too. Main thing is keep this very short and sweet so that the client can understand it.
 
Joined
Jan 13, 2002
Professional Status
Retired Appraiser
State
Florida
Do you have Alamode? If so, they have some good ones that you could either use or go by to make your own.

If you don't have it, email me and send you some.
 

SmilingDog

Member
Joined
Apr 22, 2003
Professional Status
Certified Residential Appraiser
State
California
Where in Alamode is it?
 

Pam Wyant

Senior Member
Joined
Feb 12, 2003
Professional Status
Certified Residential Appraiser
State
West Virginia
I've been thinking an engagement letter for individuals would be a good idea too. It should also have a section of the limitations of an appraisal - i.e. not a home inspection, environmental assessment, survey, etc. etc.
 
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