How many comps do u want? 9?

[Carmella]

I have an assignment that I completed a month ago on a 1004 come back and need an additional comp. So I added a comp at no charge.

Now they are requesting 2 additional comps for a total of 6.

What are my options.. Can I charge whatever I want for the additional comps? Or am I obligated to add them for free since when originally the amount of comps was never discussed when the appraisal was ordered.

Whats my defense when they ask why I am charging more?:new_2gunsfiring_v1:

Is this beyond my original scope of work?

(By the way this lender is a d*ck)

Thanks,
Joey

 

[Webbed Feet]

Mr. Ellington,

You are getting screwed for a free "Update" of the prior appraisal. I am assuming this because you posted absolutely nothing regarding WHY they want more comps or any sort of details regarding if something is amiss in your work or if they are asking for comps with "fresher" closing dates AFTER your prior appraisal report.

Oh, and you can always go by the BIFWI Rule too.

Webbed.

 

[Carmella]

They want more comps because there reviewer came in at a lower Value than I did.

First they wanted me to comment in my report why there reviewer came in at a different value than me, I explained to them I cant Review the Reviewer, nor include this in my report.

 

[Financially Feasible]

Whats my defense when they ask why I am charging more?:new_2gunsfiring_v1:

More work = more cost.

What more of a defense do you need? If they wanted 4/5/6 comps in the report, they should have asked for them UP FRONT. If you want to regal them with story telling... try some of these:

1.) Suppose you went to a dentist for a routine checkup... fee (say) = $100. After you get there, you tell the dentist that you want a root canal, 2 caps and teeth whitening. If you expect them to include that in the $100 fee, what are they going to say? No tickey, no laundry.

2.) Suppose you went to a lawyer to fill out a will... fee (say) = $500. After you get there, you tell the lawyer that you want to pursue a multi-state, class-action lawsuit against every AMC in the country. If you expect them to include that in the $500 fee, what are they going to say? No tickey, no laundry.

3.) Suppose you hired a contractor to replace 3 windows in your house... fee (say) $1,000. While they are there, you tell them that you want a 2,000 sq. ft. addition built onto your house with heated tile floors, 11 foot ceilings, triple-paned windows and a new heating system. If you expect them to include that in the $1,000 fee, what are they going to say? No tickey, no laundry.

4.) Suppose you went to a wh*re house... oh wait... ok... you get the point. :icon_mrgreen:

Appraisers are one of the few industries where people have the... *ahem*... b@lls to EXPECT that we do things for free. I don't know who started that trend, but they should be :new_2gunsfiring_v1:.

 

[Webbed Feet]

They want more comps because there (their) reviewer came in at a lower Value than I did.

First they wanted me to comment in my report why there (their) reviewer came in at a different value than me, I explained to them I cant Review the Reviewer, nor include this in my report.

Ok, so did you contract for endless rebuttals to the opinions of other people that you have no control over? Especially, when those other people may have had a completely different SOW than you had? Do you agree that you failed to fulfill your contract obligations already?

Just how are you supposed to use these "new" comps, present them, and what are the parameters for the "new" comps they want?

Webbed.
.

 

[Carmella]

"Do you agree that you failed to fulfill your contract obligations already?"

How?????, I fulfilled my obligation.

 

[Mr Rex]

I charge for additional comps when the request is unreasonable. That said, I rarely send out a report with 3 comps anymore. 6 on one today, 9 on one last week with some added commentary about 3 or 4 other sales in an addendum.

 

[hovious]

I charge for additional comps when the request is unreasonable. That said, I rarely send out a report with 3 comps anymore. 6 on one today, 9 on one last week with some added commentary about 3 or 4 other sales in an addendum.

Hey Mr. Rex...can I get another comp?

Sorry, I could not help myself!

 

[Webbed Feet]

Ok, I believe you! .. ... But do you believe you? .. If you do, then this request is up and above the engagement contract, right?

So now it's simple, especially when you don't like the client, are you a fee appraiser or a free appraiser?...

Webbed.

 

[Mr Rex]

I could dazzle you with the polite ways I have of saying go mate with yourself Mr or Mrs UW.