Appraisal - Posted by Greg Schultz

Posted by BT (FL) on July 24, 2001 at 21:34:03:

If you were in the appraisers shoes would you do an appraisal for someone on the hope that they could close the transaction.

Most appraisers have several uncollectable invoices for appraisals that were performed and not paid for.

The great thing about not being paid is that the appraiser is still responsible for the appraisal and has liability for years to come.


Appraisal - Posted by Greg Schultz

Posted by Greg Schultz on July 24, 2001 at 13:55:16:

I have a possible deal that I think would benefit from a new appraisal. The problem is that I don’t have the cash to pay for it.

I have asked one company if they could wait until closing, they said, “what guarantee can I give them that they will get the money then” and “what happens if it don’t sell?”

Is there a document that is used for this purpose besides the PA?

Or it is language put in the PA?

How do I put their fears to rest?