We have done 3 appraisals for NAC, National Appraisals Consulting, in September, October and November. They pay their appraisers ridiculously reduced fees and try to get you to sign up to be a "preferred" appraiser for which they charge you $199.
Despite repeated requests, we have not been paid. They tell us they are waiting for more jobs to come in so they can pay us (why not pay us out of the money that the client we did the appraisal for paid you?), they are working out a new billing/payment system (sure) and they don't know when we'll get paid. The last email from them in reponse to a request for payment included the information that they would also be assessing a $175 fee for "administrative" costs - this is a fee that we did not agree to!
We will not accept any more orders from them. We are strongly considering contacting the client that we did the appraisal for (the same lender on all 3). This is either a huge ripoff or an incredibly mismanaged company.
Run, do not walk, from NAC-AMC and let lenders you do business with know that they are not paying their appraisers!
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