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How much for a "RUSH"?

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Elliott

Thread Starter
Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
So I've got 25 assignments cold decked
and am 3 weeks out....I'm thinking
I'd kill myself for an extra bill and
guarantee 1 week turn.

What'd you think?

elliott

PS--I usually don't do Rushes...just thinking
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Think double...

double trouble, double headache, double fee.
 

wyecoyote

Senior Member
Joined
Jan 15, 2002
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Washington
We offer rush fees but charge accordingly for them. An extra $50 per day (to the appraiser) to shorten our turn time after the inspection.
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
Why is there such a delay after the inspection?
 

Verne Hebert

Senior Member
Joined
Feb 25, 2002
Professional Status
Certified General Appraiser
State
Montana
Here all offices are out 5 to 8 weeks. When this happens we allocated one appraiser who only does rushes.

The fees are stiff and the jobs get handled. If not for this service alot of refi locks and sales transactions will not occur. The question is, how fast do you need it? The shorter time the higher the fee.

These seem to be the only times, mortgage related, that thank you card come in.

Cut the steaks thick.
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
As I stated in another post, I've been throwing around the idea of opening <span style='color:indigo'>"ZIP APPRAISAL CO."</span>

Guaranteed same quality reports as now e-mailed within 24 hours of the setting the earliest daylight appointment. (This puts the monkey on the back of the homeowner to get you in). Subject to appraiser availability, of course.

Cost is $500. Payment is either COD from the homeowner or net 10 days from the lender. If the report is not e-mailed within 24 hours, my regular fee applies.

Three of these a puppies week and I have enough money for trout flies and hunting arrows.

(Judy says she will quit if I do this so I guess the idea is dead)
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
I was offered an extra $100 ...(local property, basically a cookie cutter)...Order was placed Friday, inspection Saturday, EDI last Saturday night and they settled Monday. I just got my check yesterday......kind of liked that! Of course, I was jammed up Sunday and Sunday night with all the ones I wanted to turn in Monday. But my question is....how come the Underwriter didn't pick that appraisal apart? It seems they've been on a roll with me the last couple of weeks. I think the more time they have, the more they nitpick! :roll:
 

Caterina Platt

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
New Mexico
I think the more time they have, the more they nitpick! :roll:

I think you're right, Charlotte. I've also noticed a direct relationship to the borrower's strength and credit worthiness.

So then, the question becomes- Should we too request a copy of the borrower's credit history and charge our fees accordingly??? The LO knows going into it that the deal will be more difficult and the origination, points, and interest rate are all stiffer. The appraiser who charges a flat fee regardless gets run through the mill. 6 comps and 2 addenda later, you now find yourself behind in the other reports on your desk and no wealthier, just further behind the 8 ball. GRRRR!

I've had a few these past weeks where I so wanted to call and take a piece of the underwriter's ear...'did you read the part where I said in bold letters 'EVERY EFFORT HAS BEEN MADE TO STAY WITHIN OR AS NEAR SUGGESTED GUIDELINES AS POSSIBLE. THE SALES PROVIDED ARE THE BEST AVAILABLE DATA WHICH REFLECTS THE SUBJECT'S MARKETABILITY'. Please, Ms. Underwriter, do read that to mean that there aren't any other sales within 1-2 miles and less than 25% gross adjustment. DO YOU UNDERSTAND?? Well, go further out. Expand your search. Aahemmm. Sale 4 was 15 miles out. Just which market would you like me to appraise? The subject's, or perhaps I should go into the neighboring town 45 miles south which has nothing to do with this home??? Argh!

Sorry guys, just had to rant. Feels better.

Happy Sunday! Typing with one eye, the other glued to NFL I imagine for most of us. :D
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Should we too request a copy of the borrower's credit history and charge our fees accordingly???

I used to get the local Credit Bureau report which had deeds and Mortgages in it. It also had bankruptcy and marriage/divorce records. I got pretty good at predicting repos and bankruptcy from reading the divorce records. If they had refied to the max within the previous year and were now splitting....bankruptcy city.

ter
 
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