Help, I need a COD disclaimer...

[Dave Smith]

NOW, how about the AMC that just instructed me to collect my fee AND their fee at the door, then send them their fee. :?:

I don't even like CODs and now I'm supposed to collect for the AMC too :!:

How do you handle that situation. :?:

And to make it even worse, the property is not occupied by the buyer/borrower. The appraisal involves the purchase of a condo in which the seller/owner doesn't even live. Where is the buyer :?: I don't know.

Oh, how I love AMCs. :evil: :evil: :evil:

 

[Farm Gal]

Dave:

That one is easy, tell them to collect their own darn money. :evil:

I have been asked to collect AMC money before but never from a buyer not resident at the property~!

I am carefull to explain that I am NOT collecting MY fee, but the fee for the broker/management company, which makes the payor MUCH less hostile to my presence

 

[Dave Smith]

That one is easy, tell them to collect their own darn money.

That is exactly what I told them. Haven't heard back yet. Maybe they can't find the buyer either.

 

[Tim The Enchanter]

Thanks Carolyn,

I'd seen that in the OREA newsletter, but lost my only copy. Comes in handy once in a while.

 

[Larry Lyke]

I've never been involved in an AMC asking me to do a COD with their fee included and then ask me to forward it directly to them, BUT I DO KNOW

WHAT I WOULD DO:

I would have the whole check made out to me and forward their portion with my check for their fee when sending them the appraisal.

If they want appraisal EDI, that'd be OK too, AFTER the check clears.

Ah,.. I'd probably go to the extra effort of cashing the check at the borrower's bank.

Ain't gonna get stiffed by the borrower and the AMC.