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Form #823Contract for Professional Appraisal Services
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Contract for Professional Appraisal Services (APPRAISAL CONTRACT) - Free Legal Form
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CONTRACT FOR PROFESSIONAL APPRAISAL SERVICES
(APPRAISAL CONTRACT)
AGREEMENT made on __________ (date),
between ____________________ hereinafter referred to as Client, and of
_________________________ hereinafter referred to as Appraiser, agree as
follows:
I - Identification:
Client hereby engages
Appraiser, and Appraiser hereby agrees to prepare an Appraisal Report on
____________________, more particularly described as follows:
Address and/or Location:
Legal Description:
Property Description:
II - Purpose of the Report:
Appraiser agrees to
furnish client three (3) copies of a written appraisal report. The report will
be prepared in conformity with the Uniform Standards of Professional Appraisal
Practice (USPAP) of the Appraisal Foundation and Section 34.42 (f), Title XI of
the Federal Financial Institutions Reform, Recovery and Enforcement Act of 1989
(FFIREA).
1III - Authorization and Data to
be Furnished
Client authorizes the
Appraiser to inspect the premises; if applicable, and agrees to furnish
Appraiser with all pertinent data which Appraiser requests in connection with
the assignment. If special legal instructions are to be considered by the
Appraiser, such instructions shall be in writing and the basis for such
instruction in applicable case law shall also be provided to the Appraiser.
IV - Compensation:
Client agrees to pay
Appraiser, for services authorized, a fee of _______________ ($0,000) payable
upon submission of monthly statements, if applicable, or upon delivery of the
report. If the fee is to be paid on an hourly or daily basis, Appraiser agrees
to keep accurate time records and to furnish Client, upon request, copies of
such time records. It is understood and agreed that the fee is not contingent
upon and bears no relationship to the valuation or conclusion to be reported.
V - Retainer:
Appraiser acknowledges
receipt of _______________ ($0,000), as a retainer, herein to be credited
against the compensation designated in Article IV of this Agreement.
VI - Completion Date Estimate:
Appraiser agrees to use
his best efforts to complete this appraisal by thirty days from the date of
acknowledgment of this instrument. Said completion date is an estimate and
does not take into consideration pretrial or court time, as well as delays
beyond the control of the Appraiser, such as illness, lack of specific
necessary data and/or Acts of God.
VII - Expenses:
If the appraisal is
outside the appraisers area of normal professional activity, Client agrees to
pay all reasonable appraisal expenses incurred, including travel expenses,
extraordinary job costs and reasonable subsistence costs incurred by
Appraiser. Client agrees to pay these expenses upon submission of an itemized
statement therefore. This assignment is not outside the area of normal
professional activity.
VIII - Testimony and Litigation
Fee:
In the event that Client
requests the testimony of Appraiser concerning his appraisal at any legal
proceeding, Appraiser agrees to render such testimony and be available for such
purpose, providing he is furnished with reasonable notice by Client of the
pendency of such legal proceedings and of the requirement that Appraiser
testify. In the event Client so requests Appraiser to testify at legal
proceedings, Client agrees to pay $_____ per hour for Appraisers services in
connection with time spent in preparation for litigation, depositions or other
pretrial proceedings, court appearances or appearances at other legal
proceedings, and related travel time to and from Appraisals office and the
place of the pretrial meetings, depositions, hearings, court or other legal
proceedings. Client also agrees to pay all reasonable expenses in connection
therewith upon receipt of Appraisers statement. Appraiser will provide
itemization of expenses upon clients requests.
IX - Collection:
Client and Appraiser
agree that simple interest of one percent (1%) per month with a maximum of
twelve percent (12%) per annum will accrue of any balance for compensation or
expense reimbursement due to Appraiser and remaining unpaid as of the date
due. Client also agrees to pay Appraisers reasonable expenses incurred in
collecting all amounts due and owning under the terms of this Agreement,
including court costs and reasonable attorneys fees.
Approved by Client and Appraiser date
and year first above written, subject to attached exhibits.
Appraiser: Phone:
Address: Fax:
Client: Phone:
Address: Fax:
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regading how we deal with your email. We pledge that we will:
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Submissions to this site, including any legal or business forms, posts, responses
to questions or other communications by contributors are not intended as and should
not be construed as legal advice. You are strongly encouraged to consult competent
legal council before engaging in any action based upon content contained on this
site.
These downloadable forms are only for personal use. Retransmission, redistribution,
or any other commercial use is prohibited. This includes reposting forms from this
site to another site offering free legal or other document forms for download.
Please note that the donator may have included different usage terms regarding this
form, and you agree to abide by these terms. It is highly recommended that you have
a licensed attorney review any legal documents for which you are searching in order
to make sure that your needs are being properly and completely satisfied.
Your use of this site constitutes your acceptance of our terms of use and your agreement
to hold this site, its officers, employees and any contributors to this site harmless
for any damage you might incur from your use of any submissions contained on this
site. If you do not agree to the above terms, please do not proceed.
These forms are provided to assist business owners and others in understanding important
points to consider in different transactions. They are offered with the understanding
that no legal advice, accounting, or other professional service is being offered
by these documents or on this website. Laws vary in the different states. Agreements
acceptable in one state may not be enforced the same way under the laws of another
state. Also, agreements should relate specifically to the particular facts of each
situation. Therefore, it is important to consult legal counsel whenever utilizing
these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com
is not engaged in recommending or referring members on the site or making claims
about the competence, character or qualifications of its participating members.
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