AZ Real Estate Commentary

"Signing Off" on Reasonable and Customary Appraisal Fees

Bottom Feeder There's a WinTOTAL Users Group discussion that I thought the larger Appraisal Scoop audience might benefit from:

"Hi Everyone, I received an appraisal request from an AMC yesterday and the fee they were offering was low, especially for this particular property. To accept the order I was asked to check a box which stated that their low fee was "reasonable and customary." I declined the order on the basis that the fee was not reasonable and customary."

"The sad part is, I know there is some desperate appraiser out there that not only took assignment at the low fee but sold out the rest of us by signing a document saying that they agreed it was reasonable and customary. The race to the bottom continues!"

Juan Restrepo Ocotillo Appraisals responded:

COAA (Coalition of Arizona Appraisers) http://www.azcoaa.us/  is gathering information regarding this type of orders. This group had a news alert done by Dave Stone, this is the link (click here).

We are trying to make our legislators aware of what is going on. If you could please forward the order to me Juan Restrepo [ jfr@cox.net ], or directly to Dave Stone, it would help us document what is currently going on. If anyone else encounters this type of order, we would like to know as well.

Thank you,

Juan Restrepo, Ocotillo Appraisals


Posted by Ron Stalzer on March 31st, 2011 9:06 AMPost a Comment (0)

Subscribe to this blog
Recent Posts:

Archive:

My Favorite Blogs:

Sites That Link to This Blog:

Ron Stalzer is an Appraiser and REALTOR, earning the prestigious RAA designation


A & E Appraisals 5616 S College Ave Tempe, AZ 85283-1817
Phone: Cell: Fax:

Staff Profiles | Contact Us | Appraisal News | FHA Checklist | Appraisal Press | Find An Appraiser | Foreclosure Prevention | Engagement Letters | Top 10 Lists | Underwriting Considerations | HVCC | Client Login | Order Online | Home Seller Services | Legal / Estate | FAQ | Homeowners / Sellers | Services / Fees | Home | Site Map | Smooth Out Your Time | Real Estate Blog | FHA Approved

Copyright © 2012 A & E Appraisals
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin LoginTerms of UseSite Map



 
State:
County:
City:
Zip: