Real Estate Appraisal Forum

appraisersforum.com logo
The Premiere Online Community for Real Estate Appraisers!
 Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
 
 
Go Back   Appraisers Forum > Real Estate Appraisal Forums > Fannie Mae, Freddie Mac, USPAP
Register Help Our Rules Calendar Archives Mark Forums Read


Closed Thread
 
Thread Tools
  #1  
Old 06-13-2007, 03:55 PM
DKAYTES's Avatar
DKAYTES DKAYTES is offline
 
Join Date: Jun 2007
State: New Jersey
Professional Status: Certified Residential Appraiser
Posts: 222
Default New client same property

I was engaged to appraise a proeprty for client A. The property is new construction and the report was done subject to completion. The borrower goes to a different mortgage company and a new assignment is generated by client B. The inspection was done and the property is completed and Client B 's report was done as-is with the new assignment.

Here's the question:

Client B can't get the deal done. The borrower goes back to client A and now Client A is calling for a finial inspection. Can it be done for Client A without violating USPAP under the original assignement or does it have to be a new assignment again from client A ?
Sponsored Links

  #2  
Old 06-13-2007, 04:26 PM
leelansford leelansford is offline
 
Join Date: Mar 2002
State: Illinois
Professional Status: Certified Residential Appraiser
Posts: 13,614
Default

The request for the "final inspection" from the first client is a new request for service...or maybe I'm not understanding your question?!?

But, yes, I don't see any reason why you can't undertake a request for a "final inspection" (what with the original appraisal made "subject to completion") for the original client.
__________________
Lee Lansford, IFA
"My opinions & my opinions only!"
  #3  
Old 06-13-2007, 04:47 PM
Otis Key's Avatar
Otis Key Otis Key is offline
 
Join Date: May 2004
Location: Mile High
State: New Mexico
Professional Status: Certified Residential Appraiser
Posts: 15,970
Default

I agree with Lee. You did do TWO separate appraisals for two different clients. The borrower went off to a different one so that was the second one - what do you care why? Now apparently the borrower is back at the first client, who you've already done a report. So? They have an original appraisal from you that was "subject to" and now they want (in the new assignment) a 1004D. What's the problem?
  #4  
Old 06-13-2007, 06:05 PM
DKAYTES's Avatar
DKAYTES DKAYTES is offline
 
Join Date: Jun 2007
State: New Jersey
Professional Status: Certified Residential Appraiser
Posts: 222
Default

Thanks guys for your input. I would think that as long as I didn't violate the Ethics rule pertaining to confidentiality I am ok. I just wanted to get another opinion. I treated the finial as a new assignement on a 442.
Thanks for your help
  #5  
Old 06-14-2007, 07:40 AM
David Wimpelberg's Avatar
David Wimpelberg David Wimpelberg is offline
 
Join Date: Mar 2005
Location: Hamptons, NY
State: New York
Professional Status: Certified General Appraiser
Posts: 15,348
Default

Quote:
Originally Posted by DKAYTES View Post
Thanks guys for your input. I would think that as long as I didn't violate the Ethics rule pertaining to confidentiality I am ok.
The appraise has to be aware of confidentiality issues, but often they are contractual. In the information given, I don't see any obvious problems.
  #6  
Old 06-14-2007, 06:16 PM
robert higgins's Avatar
robert higgins robert higgins is offline
 
Join Date: Jul 2003
Location: Connecticut
State: Connecticut
Professional Status: Certified Residential Appraiser
Posts: 969
Default

Sounds about right.

Client A - gets client A final
Client B - gets client B final

Just dont give client B, client A's final

I hope i'm right on this one, please correct if im wrong. If Client B calls for a final, go out reinspect, even if you know it is done.
  #7  
Old 06-18-2007, 06:07 PM
DKAYTES's Avatar
DKAYTES DKAYTES is offline
 
Join Date: Jun 2007
State: New Jersey
Professional Status: Certified Residential Appraiser
Posts: 222
Default

Thanks for all of your responses.
Sponsored Links

Closed Thread


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump




Copyright © 2000-, AppraisersForum.com, All Rights Reserved
     Terms of Use  Privacy Policy
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com

Fastest Way to Find a Real Estate Appraiser Enter Zip Code:
Partner Sites:
AppraiserUSA.com - National Appraiser Directory AllDomainsUSA.com - Domain Name Registration
DeadbeatListings.com - Deadbeat ListingsAppraiserSites.com - Web Hosting for the Professional Real Estate Appraiser
Find FHA Appraisers - FHA Appraiser Search Commercial Appraisers - Commercial Appraiser Search
Relocation Appraisal - Find Relocation Appraisers Domain Reseller - Business Opportunity
Home Security Buzz - Home Security Info Radon Testing - Radon Gas Info
My Medicare Forum - Medicare Info Stop Smoking Help - Help Quitting Smoking
CordlessPhoneStore.com - Great Cordless Phones AndroidTabletCity.com - Android Tablet Computers

Follow AppraisersForum.com:          Find us on Facebook            Follow us on Twitter


All times are GMT -5. The time now is 09:15 AM.

SiteMap: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93