Charles E. Jack Appraisal & Consulting, Inc.

Corporate Appraisal and Consulting Assignment Policy

From time to time, Charles E. Jack Appraisal & Consulting, Inc. (CEJAC) will use subcontracting appraisers of the highest qualifications.  However, this will be done only under the tightest supervision with appraisers having adequate appraisal experience and sufficient experience in the Las Vegas marketplace.  It is the policy of CEJAC to notify clients prior to the assignment if subcontracting appraisers will be required to complete the assignment in a timely manner.  

Unless the workload is too great, the general policy of CEJAC will be to provide client service solely through the principal appraiser, Charles E. Jack IV, MAI.  The advantage of having Charles E. Jack IV, MAI as the prinicipal and sole appraiser is that all client contacts and the resulting work prepared for the client will be the sole responsibility of the corporation's principal appraiser, Charles E. Jack IV, MAI.  The client will not have to worry about unqualified, inexperienced, or under-educated contracting appraisers preparing any work product.  Conversely, many appraisal offices in Las Vegas function with an MAI reviewer and a group of contracting appraisers.  In this type of situation it is rare when a client receives the complete and undivided services of the principal MAI appraiser in preparation of the consulting or appraisal report. 

The goal of CEJAC is to offer the complete and undivided attention of the principal appraiser, Charles E. Jack IV, MAI to the client.  This will result in a superior product prepared by an experienced and well-trained principal appraiser.

Fees

The corporation has competitive fee structures.  Some companies publish fees or fee schedule ranges for their report types on the Web.   However, CEJAC believes this leads to "cookie cutter" or "boiler plate" appraising.  In some instances a competitive fee quote for an appraisal or consulting service should be below the range of the published fee schedule.  In other demanding appraisal instances with a large number of engagement requirements, a fee quote above the range of standard fees is necessary.  In essence, CEJAC prefers to make individualized fee quotes based on property type, location, and engagement requirements rather than publishing a set fee range or schedule.  Individualized fee quotes eliminate unnecessary levels of analysis when they are not needed and also assists the appraiser in maintaining profitability when extra levels of analysis are required.  Due to the unique nature of consulting assignments, private discussions with the potential client concerning the scope of the work to be performed is necessary before any fee structure or hourly rate will be quoted.  

Due Dates

Appraisal due dates are often the basis on which the award of an appraisal assignment depends upon.  Few clients are as sensitive to price as they are to time.  It is the policy of CEJAC to make every effort to accommodate the turnaround time requirements of the client.  However, the appraisers at CEJAC are still human and cannot accomplish the impossible.  Clients that request full, self-contained narrative appraisals or consulting assignments within several days generally will not be accommodated.  Some limited and abbreviated reporting options may be available in several days during the rare moment when CEJAC workload is thin.  Clients with excellent timing and recurring appraisal requests may be able to receive commercial narrative reports in one to two weeks depending on the workload of CEJAC.  Extraordinarily complex appraisals or consulting assignments may take multiple weeks or even months to finish.  A famous quote reads, "Failure to plan on your part does not constitute an emergency on my part."  Please contact an appraiser well in advance of the time the appraisal is needed. 

Billing

The billing policy of the corporation is simple.  Government clients, federally insured financial institutions, insurance companies, and other major institutional clients will be billed.  Individual owners, developers, small mortgage companies, brokers, attorneys, accountants, and others will require a 50% retainer to commence work.  Once successful payment is made on a previous assignment by a client that is not a major institutional client, they may convert to being billed for services if so desired.  Payment is due in 30 calendar days from the receipt of the appraisal invoice.  

A late payment charge of 1.5% per month compounded is charged for all payments received after 30 calendar days from the billing.  The late penalty is charged since CEJAC may be forced to borrow funds to pay obligations of the firm during the period fee payments are late.  

CEJAC is not a financial services firm and does not offer payment plans.  Please pay your invoices promptly as I do not wish to charge any client late penalties.  

Arrangements to pay by credit card for an assignment can be made.  

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Copyright © 2001 Charles E. Jack Appraisal & Consulting, Inc.
Last modified: May 10, 2000