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  #1  
Old 01-14-2009, 03:35 PM
maryalice maryalice is offline
 
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What verbage do I need to include on an appraisal report that discloses that I know the owner of a piece of property I am appraising? What should I disclose?
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Old 01-14-2009, 04:05 PM
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PropertyEconomics PropertyEconomics is offline
 
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What relationship do you have with the owner and what is the purpose of the report?
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Old 01-14-2009, 05:29 PM
maryalice maryalice is offline
 
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It is a re-fi, the owner lives 1 house from me.
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Old 01-14-2009, 05:53 PM
leelansford leelansford is offline
 
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Quote:
Originally Posted by maryalice View Post
It is a re-fi, the owner lives 1 house from me.


And it is by mere coincidence that you have the assignment from "whatever" lender?
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  #5  
Old 01-14-2009, 06:03 PM
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That still doesnt answer how close you are with this "owner". I dont disclose things I do for neighbors. I do appraisals in my subdivision all the time, yet I have no personal relationship wiht any that would bias my opinions as to the value of their homes.
The question is .. .do you?
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Old 01-14-2009, 07:37 PM
Bama Bayou Bama Bayou is offline
 
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I worked in a market for about fifteen years where I was acquainted with about 1/3 of the owners whose property I appraised. It was no problem and I didn't disclose anything about the "relationship" since there was no bias on my part. If you feel you can't be unbiased (or you don't want to po your neighbor with a "low" value") just decline the assignment.
  #7  
Old 01-15-2009, 08:25 AM
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Quote:
Originally Posted by PropertyEconomics View Post
That still doesnt answer how close you are with this "owner". I dont disclose things I do for neighbors. I do appraisals in my subdivision all the time, yet I have no personal relationship wiht any that would bias my opinions as to the value of their homes.
The question is .. .do you?
Same hre PE. Some of my neighbors have lived there longer than I have(1974), and some are fairly new to the neighborhood. I do not socialize with any of them. I know them well enough to speak to them but I work, many of the older neighbors do not. My wife and i have never been coffee clatchers so i could easily do the house9s) next door without bias.
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  #8  
Old 01-15-2009, 09:00 AM
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Mike Garrett, RAA Mike Garrett, RAA is offline
 
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Acquaintance is not a requirement for disclosure in and of it's self. If you want to say something..."I live in the same development" or "I reside two doors down from this property" would be appropriate.
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  #9  
Old 01-15-2009, 09:30 AM
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I have no current or prospective interest in this property. Its in the certification. Nothing else is required.
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  #10  
Old 01-15-2009, 10:18 AM
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"I have no (or disclosed) current or prospective interest in this property"- or the parties involved.
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