Legal Notice / Disclaimer

Payment Policy

COD orders in the form of credit card are always recommended and preferred for either refinance or purchase transactions. Unless negotiated beforehand, billed orders will be termed DUE NET 14 DAYS on the appraisal invoice. Failure to close a loan and borrower cancellations do not alleviate client liability for payment. If a check was collected by us at the door but returns NSF, the client (broker/loan agent) is still fully liable.

Payment within 14 days is expected per invoices. In the event payment is not received after 30 days, delinquent accounts will be contacted by our billing department. In the event no efforts are made to resolve outstanding balances within 5 business days of contact, delinquent accounts will be turned over to our legal department. To stay current, customers remit balances when monthly statements are received.

Accounts sent to our legal department must be aware of the following:

•  The *engaging party or individual whom ordered the appraisal, which holds exclusive right of use to the appraisal report as protected by law, are fully liable for payment, court costs, reasonable attorney fees and all applicable collection costs related to the each delinquency.

 •  Each assignment is considered a delinquency. Therefore, (3) three delinquent assignments in a statement would be reported as 3 collection derogatories.

 * The “engaging party” in a general sense includes any entity that engaged our services with the intent to benefit from our professional and personal opinions. In the mortgage industry this refers to, includes, but is not limited to the loan officer, mortgage originator, broker or any agent to the broker of record; and the company/firm/entity itself named in the appraisal report; including management; and any umbrella organization in which said agents/individuals originated the order.