Terms and Conditions for Alaska Appraisal Source
Client refers to any lender, loan processor, loan originator, mortgage broker, loan officer, real estate investor, property owner, borrower or anyone who orders (and/or is responsible for ordering) an appraisal through Alaska Appraisal Source.
Thank you for choosing Alaska Appraisal Source for your appraisal needs. We appreciate your business and trust that the service you received was as expected.
With each and every appraisal we enclose your account billing invoice with copies of all charges and services on the front page. Please review this billing so that you may process your payment as soon as possible. Our invoice reflects a 30 day invoicing from the date that you receive the appraisal as a courtesy to our clientele. However, it is a violation of USPAP (Uniform Standards of Appraisal Practice) for our fees to be contingent upon the closing of a loan. Therefore, we would appreciate this payment within the 30 day grace period.
Any disputes must be brought to our attention within 30 days. If payments are not received after 30 days, a $100 fee will be added to the invoice. After 60 days, there will be a 18% monthly interest applied, or the maximum percentage allowed for the state in which the service was performed (which ever is higher), until the payment is received in full. Any attorneys fees, collection cost, litigation costs, court costs or any fees incurred by Alaska Appraisal Source, will be applied to invoice or statement accordingly.
Please return an invoice copy with each payment or attach the borrower's name and property address to the check.
By submitting the following appraisal order you the Client agree to the terms and conditions listed here within. If you do not agree with the following terms and conditions do not submit an appraisal order.
Client and Appraiser agree as follows:
- Purpose. Appraiser is in the business of providing appraisal services of real estate. The client is anyone who is in need of appraisal services that Alaska Appraisal Source performs. This Agreement shall govern the terms and conditions under which the Client orders appraisals from the Appraiser, and the Appraiser provides appraisal services to the Client.
- Ordering and Turn-Around Time. The website at www.akasource.com is offered for Client convenience and upon appraisal order submission by the Client, the Client will take all necessary actions and full responsibility to assure payment is met for those services rendered by Alaska Appraisal Source. Client will complete the order form and provide all the necessary information to Appraiser. Appraiser shall then use all reasonable efforts to provide Client with appraisals in a timely manner.
- Term. The term of this Agreement shall take effect for each and every appraisal order submitted.
- Fees. All appraisal fees are estimated and are subject to change depending on the complexity of the appraisal, location, size of the property, acreage and/or overall uniqueness. Alaska Appraisal Source will communicate any and all questionable properties that will lead to unexpected or untypical fees. There will be a minimum fee of $100.00 charged for all scheduled appointments where access to the property is not available, even if the appraisal is not completed.
- Payment. By submitting an order you have to agree to these terms and conditions before the website will submit an appraisal assignment to Alaska Appraisal Source, Client understands and agrees to be liable to Appraiser for any appraisal performed by Appraiser and ordered by Client. Client’s obligation to pay Appraiser is not contingent upon Client receiving reimbursement from the homeowner/buyer for whom the appraisal was ordered or by the closing of the loan if applicable. Appraiser will send an invoice to Client upon completion of the appraisal and Client agrees to pay the invoice within 30 days. Any disputes must be brought to our attention within 30 days. If payments are not received after 30 days, a $100 late fee will be added to the outstanding invoice. After 60 days, there will be an 18% monthly interest applied, or the maximum percentage allowed for the state in which the service was performed (which ever is higher), until the payment is received in full. Any attorneys fees, mediation expense, collection cost, litigation costs, court costs or any fees incurred by Alaska Appraisal Source, will be applied to invoice or statement accordingly.
- Disputes. In the event of a dispute between the parties, the parties shall use all reasonable efforts to resolve the dispute through mediation for a period of thirty days, with each party to pay ½ of the fees of the mediator and their own legal fees and expenses of mediation. If the dispute is not resolved by mediation, the dispute shall be resolved by arbitration in the Denver metropolitan area under the rules of the American Arbitration Association, or similar organization. The prevailing party in arbitration shall be entitled to reasonable costs, expenses and attorney’s fees.
- Notice. Any notices shall be sent in writing to the parties by certified mail, postage prepaid, return receipt requested to the parties at the addresses listed above or to such other address as one party may notify the other party.
- Miscellaneous. This agreement constitutes the full and only agreement of the parties. This agreement and any of its terms or provisions, as well as the rights, duties of the parties to this agreement, shall be construed in accordance with the laws of the State of Colorado .
- Liability. Under no circumstances shall Alaska Appraisal Source be liable for indirect, special, incidental, consequential, exemplary or punitive damages of any kind, including lost revenues or profit, loss of business or loss of data (even should circumstances render any or all of the remedies set forth in this agreement to fail of its/their essential purpose and even if Alaska Appraisal Source has been advised of the possibility of such damages. Any claim against Alaska Appraisal Source shall be limited to the amount paid by you to Alaska Appraisal Source.
- Modification of this agreement: Alaska Appraisal Source reserves the right to change the terms, conditions and format for which our services are provided. You are responsible for regularly reviewing these terms and conditions as each and every appraisal order is submitted. Continued use of the Alaska Appraisal Source website after any such changes shall constitute your consent to such changes and your agreement to be bound by them.
Updated – 4/22/2007