This is a sample RPAA Appraisal Agreement

(Large and highly specialized projects may require customization)

APPRAISAL SERVICES AGREEMENT


  • 1. Identification of Parties


This agreement is made this _____ day of _______________, 2017, between Roger Ponn Associated Appraisers LLC (the”Appraiser”) and (the "Client").


  • 2. Services to be provided by Appraiser


a) Appraiser will travel to Client's location(s), and examine the objects (specifics if available) designated for appraisal.


b) Alter this examination Appraiser will undertake market research and analysis Appraiser deems necessary to establish current retail replacement values for the objects, and/or where appropriate for groupings of objects.


c) Following step (b) above Appraiser will create and deliver to Client a Summary Appraisal Report. This Report will contain appropriate covering letters, written descriptions, values and photographs of the objects. This Summary Appraisal Report will conform wiUl or exceed the Uniform Standards of Professional Appraisal Practice (USPAP) guidelines.


d) Appraiser will hold all aspects of Client's appraisal project in strictest confidence, unless Client gives limited release to obtain selected information Appraiser deems necessary to complete Client's Summary Appraisal Report. A refusal by Client to grant limited release(s) may result in limiting conditions which will be stated in the Summary Appraisal Report.


e) Appraiser will maintain at no expense to Client a file copy of Client's appraisal project for five (5) years from the date of the appraisal. Appraiser agrees this file is the property of Client and will surrender it upon request for same.


  • 3. Obligations of Client


a) Client agrees to make available and fully accessible the objects to be appraised, on the inspection date(s), at the agreed-upon time(s), at the agreed upon location(s).


b) Client agrees to provide to Appraiser all existing documentation about the objects. including but not limited to, sales receipts, previous appraisals, existing insurance schedules, etc., and to fully answer Appraiser's questions regarding objects whose identity is not readily apparent.


c) Client agrees that Appraiser’s findings are based only on the readily apparent identity of each object, that authentication is not an appraisal function, and that there is no implied or expressed authenticity created for any object as a result of the examination of any object or by issuance by Appraiser of Client's Summary Appraisal Report.


d) Client agrees that Appraiser reserves the right to interrupt work on Client's project if,  in the sole judgment of Appraiser, payments when requested by Appraiser are not paid in a timely manner. Client also agrees that Appraiser may withhold all gathered knowledge, working notes and other information specific to Client's project until all fees and expenses are paid.


e) Client agrees that Appraisers maximum liability relating to Appraiser's services and performance rendered shall be limited to the fees and expenses paid to Appraiser for its services or work products for this appraisal project.


f) Client agrees to indemnify and hold Appraiser and its personnel harmless from and against any claims, liabilities, costs and/or expenses brought against, paid or incurred by Appraiser at any time and in any way arising out of or relating to Appraisers services and performance during and after this appraisal project, except to the extent finally determined to have resulted from gross negligence or will full misconduct by Appraiser and its personnel. This provision includes indemnity from any and all consequences which result from Client not having provided Appraiser with oral or written information, known to Client to exist, which would have had a material impact on Appraiser’s findings. Client agrees that the provisions in this paragraph survive the conclusion of the appraisal project for any reason.


g) Client agrees that additional services from Appraiser, which arise out of or result from the appraisal project, are additional services which will be billed to Client at the standard hourly rates charged by Appraiser at the time these services are provided. These include, but are not limited to: communications with underwriting and insurance personnel, claims settlement assistance, appraisal report follow-on work and adjustments necessitated because documentation and/or provenance were provided by Client after the delivery of Client's Summary Appraisal Report (see 3b earlier in this Agreement), arbitration, deposition, court proceedings or at any other hearing, or for any other post-appraisal function. Client agrees to pay Appraiser in advance for these services.


  • 4. Client agrees to the following Fees and/or Expenses:


a) The cost for the client's appraisal project is divided into three parts: $ _______ for the visit to examine and photograph the items; $_______ per item for the Appraiser's valuation research, analysis, value assignment and customized dictation: and report processing fees of $______ per hour for all time used in the transcription of, adjustments to, assembly and delivery of Client's Summary Appraisal Report by PDF file or Flash Drive method. (If Client desires a printed version of Client's Summary Appraisal Report, Client agrees to a charge of $7 for each page of the Report, this expense payable in advance of Report delivery.)


OR,


a) The cost for the client's appraisal project is divided into two parts: an hourly rate of $_______ per Associate for all time expended on Client's appraisal project; and report processing fees of $______ per hour for all time used in the transcription of, adjustments to, assembly and delivery of Client's Summary Appraisal Report by PDF file or Flash Drive. (If Client desires a printed version of Client's Summary Appraisal Report, Client agrees to a charge of S7 for each page of the Report, this expense payable in advance of Report delivery.)


OR,


  • a)The cost for the client's appraisal project is divided into two parts: a fee not to exceed $____, except if additional objects not considered in the original quote are added during the project the fee will be pro-rated upwards to accommodate these additional objects; and report processing fees of $_____ per hour for all time used in the transcription of, adjustments to, assembly and delivery of Client's Summary Appraisal Report by PDF file or Flash Drive. (If Client desires a printed version of Client's Summary Appraisal Report, Client agrees to a charge of S7 for each page of the Report, this expense payable in advance of Report delivery.)


b) Client agrees to pay a deposit  of $________ to Appraiser, and Appraiser agrees to hold the date(s)

Client and Appraiser have set aside for the on-site examinations. This deposit will be applied to the fees and expenses for this Appraisal project as stated above. Client agrees this deposit is non-refundable if Client cancels the project or if Client changes the on-site examination dates more than one time. Repeated on-site examination scheduling changes by Client will result in additional non-refundable deposit requests by Appraiser.


c) If travel expenses are charged, Client agrees to pay travel expenses associated with this Appraisal project as follows: 1) lowest available coach class airfare from each Associate's home base, or from an immediately preceding project to Client's location(s), and return to each Associate's home base or onward to each Associate's next engagement; 2) ground transportation costs including, but not necessarily limited to taxi cab, bus and train tares, or economy or compact car rental fees and associated fuel and tolls; 3) the most reasonably priced, acceptable lodging within ten miles of Client's location(s)


  • 5.This Agreement shall be governed by and in accordance with the laws of the State of NEVADA.




________________________________________

ROGER PONN ASSOCIATED APPRAISERS LLC             DATE: _____________________

Roger Ponn, Manager, signing for Appraiser    




___________________________________                            DATE:______________________

CLIENT Signature

 

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