AMC's Policies & Procedures

Status Requests:

If you are inquiring about the status of an existing appraisal, you may email status@richeyappraisals.net. A staff member will update you with the current status.

Trip Fees / Revisions / Additional Fees:

If an appraisal is cancelled before an Appraiser is on the way to the property, there is no fee.

If an appraisal is cancelled after an Appraiser is on the way to the property, there is a minimum $100.00 trip fee and this fee can increase to $200.00 once the property has been inspected. The total fee for an inspection will be figured on a case by case basis. By engaging Richey Appraisals to perform an appraisal on any property, all AMC's and Lenders will be subject to these terms regardless of their policies. This is the policy of Richey Appraisals.

Revisions are completed generally within 24 hours of receiving them unless they are submitted just before a weekend or Holiday. Some revisions are more extensive than others and clients should expect the Appraiser to perform his/her due diligence in investigating and providing answers for these revisions. Richey Appraisals reserves the right to charge a fee for revisions should they deem the revision requests are not relevant to the assignment or they are deemed repetitive. When sending emails, making calls, revision requests, and requesting status, all of these take up time which is what the Appraiser is providing. Adequate time will be spent on each Appraisal; however, the Appraiser and the Appraisal Office both reserve the right to charge a fee appropriate to the amount of time and resources spent on any assignment.

Reconsideration of Value:

If the Appraised Value is not what was expected, the BORROWER must request a Reconsideration of Value through their Lender.

 

Methods of Communication:

All Lenders going through an AMC MUST communicate through their AMC and not directly to Richey Appraisals.

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