| Appraisal
Procedure & Policies
Our
policy is to phone or otherwise make a contact with the person you
designate within 24 hours of receiving an order from you for purposes
of establishing a date and time for an appraiser to see the subject
property. Once the property has been visited with both hard and
photographic data gathered, our standard report preparation time
for, specifically, a 1004 or 2055 report is three business days
from the date the property was seen. Other types of reports may
take more or less time depending upon complexity.
Our
procedures and reports follow the Uniform Standards of Professional
Appraisal Practice (USPAP) and more stringent standards, if appropriate,
as established by agreement at the time of order acceptance; and
only at that time. We strive to provide the best possible comparables
from the outset. If we are subsequently asked to search for alternative
or supplemental comparables, there will be a minimum charge of $75
for search time up to one hour. Each hour thereafter or portion
thereof will also be charged at the rate of $75. We strive for completeness
in our appraisal reports the first time one is submitted to you.
If we determine we have not successfully done so, there will be
no charge for the additional time to do so. However, if you wish
additional information beyond standards agreed to at the time of
ordering, there will be additional charges at the same rates as
stated above.
We
wish to remind you that once an order has been placed, a client
stated, and the scope of work defined; there can be no changes in
these items at a later time. For example, there cannot be a change
in client, borrower, or lender. There cannot be a change in the
type of report to be done or, say, a non-FHA report changed to an
FHA report. The only way these items can be different from the original
order is for there to be a totally independent order completed under
the different stated parameters.
Thank
you in advance for your business. We will do our best to provide
you with the best in professional service. |