Mercury Network

[Bill Gutman]

My mentor recently received an appraisal request through the mercury network which he has an account with. The lender that requested the assignment is located over 80 miles to the west of our office. The assignment was just down the street from our office which seems to be the reason this lender gave the assignment to us. The lender noted on the appraisal request to not collect payment from the borrower and that the lender would pay us through A la Mode. Is this possible. Apparently A la mode will send us a check for the services rendered and the lender and a la mode work it out between them. Does this happen or is my mentor getting shafted? Just curious.

 

[Chris Colston]

Originally posted by Bill Gutman@Sep 8 2003, 01:49 AM
The lender noted on the appraisal request to not collect payment from the borrower and that the lender would pay us through A la Mode. Is this possible. Apparently A la mode will send us a check for the services rendered and the lender and a la mode work it out between them.

This is news to me. I don't think Alamode is in a position to coordinate payments to all of the appraisers who use the Mercury Network. I could be wrong, but I haven't heard this from Alamode or on the Yahoo users group. Your mentor may want to call Alamode or Mercury support to get the answer.

 

[Carnivore]

Thats news to me also.

My guess is that the lender will stiff you if the deal goes south so you better hit the number!

 

[baeaton]

Bill, This is possible. We did a promotion recently where we gave away 10 free appraisals to some lenders using Mercury Network. To make sure, contact Pam Adkins at 1-800-434-7203 and she can verify if this is the lender.

Thanks,
Brad Eaton
Mercury Product Manager

 

[Pamela Crowley (Florida)]

Brad,

I do hope you had lots of conditions on those 'free' appraisals!!! Every time I did a promotion for a free appraisal, whoever 'won' it tried to get a really weird property appraised.

Such as:

1 was a commercial 3+/- acre parcel with an older house on it.
another was a 4,000+ SF new house on the river.
another was a horse farm on 12 acres.
another was a 3,000+ SF house, 1 acre, large detached recreation house, in a subdivision area of smaller houses on typical subdivision lots.

All of those appraisal orders were well above any 'typical' appraisal fee.

After the first one, I put lots and lots of conditions on my 'certificate' for a freebie appraisal, but it never did stop them from trying!!!! Every one that 'won' one knew full well what they were asking for too. The first one, being the commercial property, was real easy to get out of because the free appraisal certificate specifically stated it was for a residential property. The rest of them were easy to add on fees to because it was covered in my conditions of what a 'typical' single family residential property was and it had to be located on a 'typical' site in a 'typical' platted and recorded subdivision within X miles of the City of Jacksonville..... etc... etc.

Get the picture? Whatever lender won those freebies will probably try to apply them to the most difficult appraisal orders! Hope you're covered!!!

 

[Bill Gutman]

Brad, thanks for your response. It was a promotion that the lender participated in through Mercury. Believe it or not the appraisal was on of the easiest I've done in a while. Thanks for your help.