Gold Supporting Member
- Jan 16, 2002
- Professional Status
- Certified Residential Appraiser
I think I've done work for you before. That sounds very familiar.
Making an appraisal continegent on getting paid or (a check clearing) is expressly forbidden in the Ethics Rule, so that option is out.
It is unethical for an appraiser to accept compensation for performing an assignment when it is contingent upon:
the reporting of a predetermined result (e.g., opinion of value);
a direction in assignment results that favors the cause of the client;
the amount of a value opinion;
the attainment of a stipulated result; or
the occurrence of a subsequent event directly related to the appraiser's opinions and specific to the assignment's purpose
This appraisal was engaged by the above client under "COD" terms whereby the borrower has agreed to pay the appraiser directly for services rendered. This appraisal and appraisal report are made subject to the appraiser receiving said compensation.