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Rash of cancels...

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Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
OK folks when you get a 'legitimate order' from known and steady clients, which cancels before inspection, I sort of figure sometimes you write it up as good customer relations and eat the wasted time, but this can only happen so many times and then it starts to cut into the income stream to a significant degree...

I am finding a significant number of these 'cancel' things happening, partally due to the lender ordering an appraisal to get it into motion, and then finding the deal is shaky OR they 'don need no stinkin apprasaler' at tall 8O t-h-aaaa-n-k-s Fannie :roll:

Doing basic prelim research, pulling pre-inspection comps, or working up some of the 'dumb typing' and then two hours before inspect you get a cancel STINKS. OK so this doesn't happen ALL that often roun here, but still :evil:

fool me once, fool me twice...

I am getting to the point I am going to charge a minimum fee for ALL cancels if they got to my inbox more than 5 minutes ago.

Ones like the above are going to get a time and trouble fee. Since I had to schedule it and now have a reworking of my schedule that is inconvenient and bordering on real costly if it runs to more than a few a week :evil:
:multi: one, two max, no big thing... but 4!?:eek:nfire:
How (by the hour, flat fee for stage of cancel, or sliding scale based on client/appriaser fondness) to charge?
How many coyote pelts SHOULD one charge as a minimum under these circumstances?
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
Lee Ann,

I tell clients up front that if they cancel after I have set an appointment it's $100. Have had a few but not many. Reasons: Borrower didn't qualify, Borrower wasn't ready, Found someone to do it sooner......No matter it's STILL $100. Turn it around......what would happen of YOU cancelled on THEM?
 
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Regular customers who cancel from time to time are not a problem.

Joe from nowhere who has never hired me before who waits several days and the file is ready to view gets a $100.00 fee.

I usually base the fee on my hourly charge considering how long it would have taken me to do the work necessary to that point. Ready to view files have SP & CS information in the file with tax office information, maps, etc. All I have to do then is view the SP & CS's and write the report, assuming all the CS's & SP are as I expected them to be.

Lenders can do a 24 hours credit check that should put them in a position to make a decision. If the borrower lied to them charge the borrow but don't expect me to eat their mistake.
 

Tim The Enchanter

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
There's so many possible reasons for cancellations, I try to do as little as possible before I actually see the property. Run comps, sort them out, and that's it. If short of time just run comps and take printouts into the field. 8)
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
I take a very similar approach to Lee. I do very little until I get there. If they cancel before I hit the road, no problem..... on to the next one.
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
Put me down with Lee also.

I do just very basic research work before going to the property. Nothing that is considered enough to charge $100 for. Maybe $25 -50 max would cover it but I'm not going through the hassle of invoicing and explaining.
 

jtrotta

Senior Member
Joined
Jan 16, 2002
LeeAnn

do similar to you, but only on accassion do I get a cancel order; some of the reasons why you have gotten more lately - Newbies in the biz and are jumping the gun. Had one recently with a major player, who put in the order and within 2 days called back ta put it on Hold and then a week later cancelled the order, because the Customer's credit was a problem :wink: .
My answer to this nonsense was; I quoted a Fee based on the appraisal problem (it's all about the Benjamins-fer the job) big job / big bucks (no pun Bobby :lol: :lol: ) because I knew the job was not an ordinary cookie cutter; their interum time was spent finding some dummy that would do it for about 1/2 the cost or less, once they hook one of those "Blow Fish" - they jus cant let em go. Called for a Fee of $100- for the time block & subject research, wether it gits paid, we'll see.

8)
 

liznindy

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Indiana
I NOW do minimum work prior to the inspection as well (same as Lee Ann) primarily because of cancelations I have had in the past where I have done a fairly significant amount of preliminary work on a report (typically when the work load is slow).

Now when they cancel (or put the file "on hold"), no big deal.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
I'm like Lee. No comps till day before unless we really expect a problem. Minimal work other than 5 minutes to set up folder, pull taxes and set appointment. That way, we're not out a lot. If it's a multi-family or an odd one where we've spent time, then there's a bill for time. Sometimes they gripe, but that's life in the big city.

Roger
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
File completely set up and appointment set....$50. After inspection....1/2 the fee. We are seeing abit more of this cancel thingie too!
 
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