On being on the VA panel as a fee appraiser.

[bnmappraisal]

However... the last 3 reports I reviewed the appraisers accepted $325, $350 and $350, you have to disclose your fees in AZ in the report...Two of them were 15 year plus guys and the reports were very good and professional..I emailed one of them telling him the avg appraiser right now in Phx is getting between $600-$800 per report and if he would stand up for himself and request more it would help everyone on down the line...those are the ones you have to convince and Im guessing theres 10 guys taking anything and everything at fees from 20 years ago versus the guys throwing out $900+ quotes on everything..

Very true statement Kyle. I do wonder if some appraisers just don't know what others are charging and think everyone must be around the same fee(s) as them

 

[Alsie35]

Hey Brit - you don't cover Napa do you? I got a mountaintop house order today I can shoot over your way .... .....

 

[Tru Red]

Hey Brit - you don't cover Napa do you? I got a mountaintop house order today I can shoot over your way .... .....

If it's a $3,000,000 or more home, 5,000 sf, at least 3 stories on 40 acres with vineyards that they use as a hobbie farm with a horse set-up and 2 pools and several ADU's and the VA is offering $600.....I'm all over that. Send it to me. I know what to do with it. lol

 

[Mejappz]

The VA fee schedule should be for standard properties, but since it is the Government, every property is typical. One size fits all in the world of the brain-dead bureaucracies of Fannie, Freddie, HUD, and VA.

 

[KYLECODY]

If it's a $3,000,000 or more home, 5,000 sf, at least 3 stories on 40 acres with vineyards that they use as a hobbie farm with a horse set-up and 2 pools and several ADU's and the VA is offering $600.....I'm all over that. Send it to me. I know what to do with it. lol

See that ones too easy. More than one adu and its ineligible for financing. Problem solved.

 

[Tim Hicks (Texas)]

This is my biggest issue, having to accept every job. I try....I really try to do everything they send me even if the job should be paying $1,500 and is only paying $600.

Problem is right now.......everything is paying $750 to $1,000 even basic cookie cutter homes. The VA still expects a complex 5,000 sf home on 20 acres selling for $2,500,000 to be completed for $600.

SMH.

You can apply for a fee increase for complex properties. Otherwise, when the market shrinks you will thankful for your VA client and their fees as your peers scramble for work bidding sub $400 fees. If not, adios!

 

[James Mpls]

I agree to not sell yourself short, especially right now with craziness in the market..and the fees I've quoted people the last 4-6 months are ridiculous, amazing for me and admittedly worth way more than I could ever deserve for a few hours work. I don't get many at my "requested fee" percentage wise, maybe 1 out of 10-15 but enough to be busy as can be at crazy fees.


However... the last 3 reports I reviewed the appraisers accepted $325, $350 and $350, you have to disclose your fees in AZ in the report...Two of them were 15 year plus guys and the reports were very good and professional..I emailed one of them telling him the avg appraiser right now in Phx is getting between $600-$800 per report and if he would stand up for himself and request more it would help everyone on down the line...those are the ones you have to convince and Im guessing theres 10 guys taking anything and everything at fees from 20 years ago versus the guys throwing out $900+ quotes on everything..

That is just insanely low fee-wise. Good on you to inform them of the huge amount that they are selling themselves short by. The Lender or AMC is never going to let them know, out of the goodness of their hearts. And I thought $450 was low…

 

[James Mpls]

You can apply for a fee increase for complex properties. Otherwise, when the market shrinks you will thankful for your VA client and their fees as your peers scramble for work bidding sub $400 fees. If not, adios!

Exactly. I have completed multiple VA assignments in the $1,000-$2,000 range. You just have to inform rationale for the additional fee in an email. Then the fee must be approved by the RLC, Lender, and Veteran. At least that is the protocol for the Saint Paul RLC…

 

[NortheastAppraising]

It took until this month to have 600-700$ fees the norm here in NJ. I still put the VA orders first mainly because it feels like the right thing to do.

On the review side, I can’t believe people are still taking things for $300 here…but they are definitely getting smart. I’ve had multiple 600-700$ quotes result into actual paying work. It’s nice.

 

[coolhandluke]

If you get a tough one and tidewater comes into play, it expounds the problems but an ROV on conventional or FHA also expounds the complexity and you can't see that going in.

Expounds?