Certified Appraisals, Inc. Blog

Your appraisal company may or may not work with AMC's, but if you are trying to diversify your client base you should be working with at least a couple. When an AMC sends you a contract agreement package to sign, make sure you read the contract carefully before signing the agreement. In fact, it would be prudent to contact your E&O insurance company and have them review it. They will be able to give you expert advise on the legitimacy of the contract. Our office has contacted our E&O insurance company on numerous appraiser contract agreements and have been supplied with detailed analysis of these agreements. Though the E&O insurance company may not advise the appraiser as to whether or not to sign the agreement, on occasion they have mentioned that a specific agreement may put the appraiser in a precarious position. The decision is ultimately the appraiser's, but it is good to know we have a point of reference before signing on the dotted line.

Signer beware.