Fees For 3.6

[Tim Hicks (Texas)]

Why would it shock you that lenders and clients are trying to keep a lid on fees? It would actually be shocking if they did not try to keep a lid on fees. Whether they will be successful in limiting fee growth depends solely on whether they can find enough dopes to provide 3.6 appraisals with no increase in fee.

And they will and already have found plenty.

 

[chad hampton]

I’d be shocked if fees don’t drop.

 

[gorillakimchi]

The real problem isn't that SCAMCs like Class, RSDS, and others continue pushing low fees. That's their business model, and they're not going to change it voluntarily.

The problem is that there are always appraisers willing to accept those fees, even with the additional workload and complexity of UAD 3.6.

We've spent decades watching appraisal requirements increase while fees have barely kept pace. Now we have an entirely new reporting system, additional data requirements, and a steeper learning curve, yet some appraisers are still accepting $375 assignments.

At some point, we need to stop blaming only the AMCs and recognize that accepting these fees helps keep them at that level.

Apparently, we're expected to deliver a 2026 appraisal product at 1990s prices. What a great business model. Just not for the appraiser.

 

[OSU Beavers]

I finally got an inquiry for what should be a simple 3.6 purchase, so I bid low. I really need an easy one to start, no more of this 20 to 300 acre horse property BS like I have been seeing all month!

 

[Airstream]

I finally got an inquiry for what should be a simple 3.6 purchase, so I bid low. I really need an easy one to start, no more of this 20 to 300 acre horse property BS like I have been seeing all month!

Yes. I just did a property that was 16.32 acres with 600’ of shoreline on Flambeau River. High elevation. Takes a mountain goat to walk to the shoreline. Just about everything you can imagine with functional obsolescence. The house is a 1930’s, stone foundation (basement sort of), really no kitchen to speak of, upstairs less than 7’, old wiring, no heat ducts upstairs despite newer furnace. The guy bought it and is trying to remodel it. Doing a crappy job. House doesn’t even have the panaramic view of the River!! Couldn’t believe the guy just didn’t tear the thing down. Piece of junk when he bought it. He lost probably 50,000 to 75,000 by not utilizing the view. Horrible. And of course it is in a county of about 15,000 people. Terrible comps. Doing it on the 3.6 was just brutal.

 

[Lil Rhody]

Yes. I just did a property that was 16.32 acres with 600’ of shoreline on Flambeau River. High elevation. Takes a mountain goat to walk to the shoreline. Just about everything you can imagine with functional obsolescence. The house is a 1930’s, stone foundation (basement sort of), really no kitchen to speak of, upstairs less than 7’, old wiring, no heat ducts upstairs despite newer furnace. The guy bought it and is trying to remodel it. Doing a crappy job. House doesn’t even have the panaramic view of the River!! Couldn’t believe the guy just didn’t tear the thing down. Piece of junk when he bought it. He lost probably 50,000 to 75,000 by not utilizing the view. Horrible. And of course it is in a county of about 15,000 people. Terrible comps. Doing it on the 3.6 was just brutal.

appraising waterfront properties on the UAD 3.6 requires additional granular data points to be collected and reported. I now consider these property types as complex and have increased my fees accordingly.

 

[OSU Beavers]

I got my single level, hopefully an easy first UAD 3.6 for 750. And AMC #4 is trying to get that million dollar 20 acre horse property placed on a UAD 3.6 still, LOL.

 

[Vermonter]

I’d be shocked if fees don’t drop.

Of course. All those appraisers that have been procrastinating and hoping for a delay on 3.6 are gonna panic and jump in the pool next week.

Combine that with the already low volume/changing market and it's going to be a rough holiday season.

 

[Jayjay25]

Countered a $550 3.6 order with a $750 fee for a standard property and it was accepted. Set your fees where they belong and stick to them. The GSE’s asked for this mess and we are in business to charge them for it.

 

[Airstream]

I am doing a 2.6 report. Oh my how much easier and quicker it goes. Unbelievable! It took me half the time to do the report. Whipped through it in no time.