Editor’s Pick: One Appraiser’s Solution to Getting Paid
by Isaac Peck, Associate Editor
Here is one answer to “show me the money.”
The practice of appraisal management companies (AMCs) slow paying appraisers or not paying at all continues to be a problem for the industry- to the tune of millions of dollars in unpaid invoices as a result of recent bankruptcies of three prominent AMCs. As a result, appraisers are looking for ways to protect themselves and their businesses.
One appraiser has a solution that has worked for 20 years: she combines commonsense screening techniques, before taking on a client, along with the imposition of liens against deadbeat payers.