Receipt for COD appraisals-input wanted

[George W Dodd]

Larry,

Got to agree with that method, been doing the same over the years. A lot of problems can be nipped in the bud with a little professional information. 8)

G-man,

A receipt is the best way to handle pay-at-the-door requests. It's hard for somebody to act as if they didn't know when you've got a copy of a signed reciept in your file.
And it's the best way to make sure you're getting paid for the job.

 

[Jeff Horton]

Thanks G-man and George, I was beginning to think I was the only one that thought this was good idea :wink:

 

[Larry Lyke]

There's preparatory things that can soften the C.O.D.-at-the-door "problem":

So many people have the fear of rejection and it seems to become exacerbated when it's time to ask for money that rightfully belongs to them. Thankfully I have no such inhibitiions. I love to ask for money. Mainly because money is the great equalizer in business. Those who have it or get it are equal; those who don't are equal only among their own peers!

Ameliorate the "difficulty" by rehearsed comments in your inspection phone appontment interview. Try this near the end of your conversation: "And there's note on my file that I'm picking up a check while I'm there." Depending on how the Borrower responds depends on how you proceed with the conversation.

Under no circumstances will you go to the property without the Borrower having affirmed that she's understands and ascents to paying you while you are there.

ESPECIALLY if you the Appraiser having unwittingly been put in the position of "closing the loan sale" for your Client.

A possible scenario, like when you announce to the Borrower that you are collecting money on your visit: "I don't want no @&_%# loan ... especially if I got to pay you for it... pay upfront for it.

People get ito the real estate busineses because they love to work with people...

 

[Blue1]

Having your phone number on your business card could also be beneficial....I have received assignments from folks that gave my card or number to someone else who had their lender call me.

 

[Richard Carlsen]

There is nothing that will set Judy off like calling to set an appointment where there is a COD and have the home owner know nothing about paying us at the time of my visit.

That LO gets an immediate fax telling him/her that the home owner knew nothing about the COD and that the order is placed ON HOLD until they make the arrangements. She tells them that any delay may change the date of my visit to the property and thus delay the completion of the report. The file then gets placed in the ON HOLD file and sits there until the situation is resolved. (And I get an earful about LO’s and how incompetent they are.)