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Real Estate Appraisal Service Agreement - reca

Real Estate Appraisal Service Agreement - reca 2025

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This document is a Real Estate Appraisal Service Agreement outlining the responsibilities and duties of both the real estate appraisal professional and the client. It specifies the appraisal assignment details, including intended users, property address, purpose, and applicable appraisal standards (CUSPAP, USPAP, IVSC). The agreement details the client's obligations to provide access and documentation, as well as payment terms for services rendered. It also addresses confidentiality regarding personal information collected during the appraisal process.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What does a service agreement do?

A service agreement sets out the key terms of a business relationship, including the scope of services, payment, timelines and responsibilities. It helps prevent disputes by making obligations clear.

What is the purpose of a service agreement?

The real estate professional owes fiduciary duties, which include loyalty, confidentiality, and full disclosure of all conflicts of interest. Your brokerage cannot appoint another brokerage to act on your behalf unless you give them your written consent.

What are the fiduciary duties of Reca?

A buyers broker may negotiate the amount of compensation directly with the Buyer and then document that agreement in a buyer representation agreement (C.A.R. Form BRBC or PSRA). The buyer then becomes contractually obligated to pay the broker by providing funds to escrow prior to the closing of a transaction.

What is the main purpose of a service level agreement?

SLAs are a foundational agreement between your IT team and customers that are important in building trust. They manage customer expectations and allow your team to know which issues you are responsible for resolving. With SLAs in place, there is mutual understanding of service expectations.

Why is a service agreement important?

A service agreement is a contract that outlines the terms and conditions governing the provision of services between a service provider and a client. It serves to clearly define expectations, protect both parties interests, and provide a framework for a successful working relationship.

Are service agreements legally binding?

These documents are not only imperative in protecting the interests of both parties but also bind both parties legally in case something does not go right. A well-drafted contract holds the key to a problem-free professional relationship.

Real Estate Appraisal Service Agreement - reca 2025

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