Steve Owen
Elite Member
- Joined
- Jan 16, 2002
- Professional Status
- Certified General Appraiser
- State
- Missouri
I may be different from others in this thread. I think it's unethical and I wouldn't do it for that reason unless it was handled in a way that the borrower knows the amount of the appraisal fee.
I had a request once where they asked me to collect and had a requirement in their assignment letter that I not disclose the amount of their fee to the borrower. I declined the assignment on ethical grounds.
If you are going to do this, be sure to get the check made out to you. Then give the borrower a receipt that clearly shows the fee for the appraisal work. (You'll probably lose the assignment if you demand to do it this way, but who cares - there's plenty of good work out there.
I had a request once where they asked me to collect and had a requirement in their assignment letter that I not disclose the amount of their fee to the borrower. I declined the assignment on ethical grounds.
If you are going to do this, be sure to get the check made out to you. Then give the borrower a receipt that clearly shows the fee for the appraisal work. (You'll probably lose the assignment if you demand to do it this way, but who cares - there's plenty of good work out there.