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Review Fees

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Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
Had a client send me a review. Wanted a new estimate of value if we disagreed. Now, this client never sends me one if there's not a problem.. and they're cheap. I called them up and cited the changes to Standard 3. If they want a new value, it's an appraisal and that's the fee.

I may not get any more from them but I'm not losing any sleep over it either.

Roger
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Don't feel too bad. I told one to take a hike when they wanted a desk review with a new value for $75. Like has been said before, all they want is a cheap appraisal.
 

Tim Hicks (Texas)

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Texas
I charge no less than a URAR fee for a field review. It should be double, but nobody will pay it.
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Oh yes they will, Tim. That's what I charge, and they pay it. And they would pay it to everyone else, if everyone only had the self-dignity to charge what their services are worth.
 

Dale Smalley

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Florida
You can do a desk review without inspecting the property and provide new value based on your findings. Yes that is an appraisal and must have the certification and all the USPAP stuff. Disclose that you did not inspect and what you based your value on (scope). As far as fees we dont want to be collusion but I charge between 170 and 180 for a desk review. And yes they want my opinion of value not the I agree or disagree statement.

If you do new appraisal the lender will now have two different values and be twice as confused. The hardest part about a review is explaining why something is wrong and then you have to explain how to correct it. Sometimes this is much harder than doing a new appraisal.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Let just say "no" to enhanced reviews. If you want a review, I will review the appraisal. If you want a value opinion, I can do an appraisal...but I am not going to do both. Guarantee you will create a work product that will get you in trouble somewhere down the pike.

Charge what you feel your work is worth. No price fixing there. I know what my time is worth...it's just that some of my clients would like it to be less.

Have a nice day! :D
 

EDWARD BERRY

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Arkansas
REVIEW---$225

IF VALUE NOT THERE --ADDITIONAL $175--THATS A BARGAIN BECAUSE it alerts them to do careful underwritting. ed in backward arkansas.
 

Mike Simpson

Senior Member
Joined
Jan 30, 2002
Mr. Strahan-

I left reviews behind a long time ago because of the problems you're lamenting about. Two assignments - Review + New Appraisal. Based on my experience, they simply didn't want to pay a fair fee for the work involved.

I personally don't do desk reviews, field reviews or any kind of review. I don't do 'Driveby's' either. If I'm gonna do an appraisal I wanna inspect the interior--then there'll be fewer problems if I'm ever taken to task--see Neverwilllearns post under ask an appraiser.

Sometimes you just have to let go & take a risk in this business. I left these kind of assignments behind years ago, and make more money & have more free time than ever before.

I do, however, reserve the right to offer these services in the future should other areas of my business dry-up.

-Mike
 

jtrotta

Senior Member
Joined
Jan 16, 2002
Mike S

"I do, however reserve the right to offer these services in the future should other ares of my business dry-up." 8O :lol:

in writting and on the forum - very good, Mikeeee :wink:


8)
 

MARKETVALUE

Sophomore Member
Joined
Feb 11, 2002
Professional Status
Certified Residential Appraiser
State
Georgia
"THE INFORMATION CONTAINED IN THE ORIGINAL REPORT IS CONSIDERED TO BE TRUTHFULL AND ACCURATE UNLESS DISPUTED BY READILY AVAILABLE RESOURCES TO YOUR REVIEWER. PLEASE SEE SFR GRID FOR COMPARABLES THAT APPEAR TO SUPPORT A VALUATION IN A RANGE OF (INSERT WIDE RANGE TO C.Y.A.)" AN APPRAISAL IS RECOMMENDED IN ORDER TO OBTAIN MARKET VALUE.

CONSULTING SERVICE $225

When you have a GOOD client worth working for, You find a way to give them a product they can use while being as vague as possible leaving you many outs should you find yourself in front of the jury one day............

just my two cents...

MRM
 
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