Does 1004D appraiser assume liability for underlying report?

[Zoe]

They didn't ask you to inspect the property in your scope of work. The asked you to inspect specific repair items, which is not an appraisal. However, this is why most of us don't do other appraiser's repair list. Personally, I would tell the lender to use another appraiser, no charge for my report. Is that better than losing this lender at this point in time of being dead.

We're talking about how much of a fee to do this argument and lose the client. Stop thinking like i'm totally right, and you the client must obey me. They can always get someone else and not pay you anyway. This is not the hill to die on, it's a bump.

the problem there is FHA is client also. Can't ignore FHA.

 

[Zoe]

I can see the picture with the OP. The OP is concerned about the lender and FHA.

The OP knows the 1004D is going to lender and FHA. (the clients)

Similar to completing appraisal report now. You know a copy should be going to the borrower. You don't give them the copy though. You are under a confidentiality agreement with your client(s).

You can't share confidential information with anybody but your client(s).

You can ask borrower for a copy of appraisal that lender has gave them from another appraiser. Borrower can email or give you a copy. No foul committed.

 

[J Grant]

I fail to see how an appraiser inspecting for a 1004d assumes liability for the prior report done by another appraiser.

All the second appraiser assumes liability for is whether the X item on the 1004D , made subject to repair or completion, whether it was repaired or finished, or was it not?

 

[Zoe]

I know, I might not be your first choice to be on your appraisal panel. That is not my problem.

 

[Zoe]

I fail to see how an appraiser inspecting for a 1004d assumes liability for the prior report done by another appraiser.

All the second appraiser assumes liability for is whether the X item on the 1004D , made subject to repair or completion, whether it was repaired or finished, or was it not?

Because FHA is their client also.

 

[Zoe]

The appraiser that is doing the 1004D has the same client(s) as the original appraiser.

Most of the time, the 1004D appraiser has a copy of the original appraiser's appraisal report. I have.

 

[Zoe]

I would almost guarantee you the OP has a copy of the original appraiser's report.

 

[Tom D]

The appraiser that is doing the 1004D has the same client(s) as the original appraiser.
Most of the time, the 1004D appraiser has a copy of the original appraiser's appraisal report. I have.

Just curious Zoe. 1004d repairs only, so you then would walk thru the whole house to catch any missed repairs. Or, you just are reporting the obvious one you saw on your way to the 1004d list. Sorta a half inspection for your client, FHA.

 

[Zoe]

Just curious Zoe. 1004d repairs only, so you then would walk thru the whole house to catch any missed repairs. Or, you just are reporting the obvious one you saw on your way to the 1004d list. Sorta a half inspection for your client, FHA.

That is where I would want FHA involved in my workfile If FHA was client in original appraisal, I would want FHA to confirm what I need to do because I still see FHA as my client.

I am not putting an appraisal on the subject. I am performing valuation services for my client.

 

[Zoe]

OTOH, I would not be opposed to second appraisal from the client(s). LOL