Payment for Appraisal Report Invoice

[tbliss86]

For all my reports I put Net 30 on the invoice. Over the past year my over 30 day A/R has seen an increase. It gets a little frustrating when I turn in my appraisal on or before the due date, but they show no concern meeting my payment criteria. Do any of you charge a late fee?

 

[CCAAMO]

time to eliminate the slow paying clients

 

[tbliss86]

75% of my work is direct lender averaging $500.00 per report. If its an AMC its $600.00. I live in a rural area of East Texas and we are short on appraisers around here. Its not an issue of low paying clients but rather late paying clients.

 

[CCAAMO]

My typo, I meant to say "time to eliminate Slow Paying, not low paying"

 

[spittman]

No late charge, but I just don't accept anymore work until they pay for completed appraisals. Either that or I will take my time turning in the next appraisal. Two can play that game.

 

[Terrel L. Shields]

I have billed late charges. I have one late now. I will not do another for them until it is paid. I won't bother to remind them either.

 

[Tim The Enchanter]

I had one via Mercury a while back that was slow pay. I had to ask them 3 or 4 times on a couple jobs.
finally they paid after 5 or 6 weeks. Later they sent another request, I said I need some assurance I won't have to chase after you to get paid.

I did not get that job. I have not heard from them since. I say, good riddance.

 

[Tru Red]

For all my reports I put Net 30 on the invoice. Over the past year my over 30 day A/R has seen an increase. It gets a little frustrating when I turn in my appraisal on or before the due date, but they show no concern meeting my payment criteria. Do any of you charge a late fee?

General Public? Are you an appraiser? Does it matter?

 

[jay trotta]

For all my reports I put Net 30 on the invoice. Over the past year my over 30 day A/R has seen an increase. It gets a little frustrating when I turn in my appraisal on or before the due date, but they show no concern meeting my payment criteria. Do any of you charge a late fee?

So are you saying on the 31st Day it's Overdue ?
Genrally, I'll grant them 60 on an oversight, then send it to the State AG

Late Fee is (if filed by State Law as to Rate), in all my years have never charged a late Fee, but only had to send (1) to the State AG, some wiseazz in Irvine, CA. , they pony'd up by weeks end. I did request sanctions, won't happen initially....but....it can happen.

PS: Do you have them (your Clients) sign an Appraiser Agreement with any of your Clients ??

 

[BRCJR]

Unless it is agreed upon in the contract (letter of engagement) I speculate you cannot legally force the late charge to be paid.