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  #1  
Old 09-24-2009, 07:03 AM
bbr711 bbr711 is offline
 
Join Date: Jun 2008
State: Tennessee
Professional Status: Certified Residential Appraiser
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Default Discussion of Value with Homeowner

Can someone direct me to USPAP verbiage that limits appraiser discussion of value to only the client, ie - the lender?

In the past, it has sufficed for me to mention to the homeowner that I am legally bound to discussion of value with the lender alone when the lender orders the appraisal. This homeowner is different, and he has my email address...

I need to reference legal jargon before this gets more out of hand...


Thank you.
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  #2  
Old 09-24-2009, 07:19 AM
Rich Heyn Rich Heyn is offline
 
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Location: Southwestern Michigan
State: Michigan
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Ethics Rule lines 265-266
  #3  
Old 09-24-2009, 07:21 AM
Randolph Kinney Randolph Kinney is offline
 
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Location: SoCal
State: California
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Quote:
Originally Posted by bbr711 View Post
Can someone direct me to USPAP verbiage that limits appraiser discussion of value to only the client, ie - the lender?

In the past, it has sufficed for me to mention to the homeowner that I am legally bound to discussion of value with the lender alone when the lender orders the appraisal. This homeowner is different, and he has my email address...

I need to reference legal jargon before this gets more out of hand...


Thank you.
I don't know that your homeowner will understand or recognize USPAP as the authority.

Page 2 line 66 defines who is the client.

Page 8 line 295 explains confidentiality and the obligation to the client-appraiser relationship. It is part of the ethics rule.
  #4  
Old 09-24-2009, 08:49 AM
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Carnivore Carnivore is online now
 
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Location: Queen City
State: North Carolina
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I have a better idea. Call your amc/lender, its there job to deal with this issue.

We are mushrooms now. We are limited to who and what we can talk about. Thisis contrary to the intent of USPAP, but hey its a document that is becoming marginalized anyway. So who cares.

or

You could call the AMC/lender and ask them for written permission to speak with the borrower!!
  #5  
Old 09-24-2009, 09:02 AM
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Mike Kennedy Mike Kennedy is offline
 
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Location: Southern Hudson Valley
State: New York
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ETHICS RULE
Confidentiality:

An appraiser must protect the confidential nature of the appraiser-client relationship.
An appraiser must act in good faith with regard to the legitimate interests of the client in the use of confidential information and in the communication of assignment results.
An appraiser must be aware of, and comply with, all confidentiality and privacy laws and regulations applicable in an assignment.

An appraiser must not disclose confidential information or assignment results prepared for a client to anyone other than the client and persons specifically authorized by the client; state enforcement agencies and such third parties as may be authorized by due process of law; and a duly authorized professional peer review committee except when such disclosure to a committee would violate applicable law or regulation. It is unethical for a member of a duly authorized professional peer review committee to disclose confidential information presented to the committee.
U-8 USPAP 2008-2009 Edition
ŠThe Appraisal Foundation
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  #6  
Old 09-24-2009, 01:21 PM
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Dutchman Dutchman is offline
 
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Is it against USPAP (the rules) to ask an homeowner what they think it's worth???
  #7  
Old 09-24-2009, 02:15 PM
leelansford leelansford is offline
 
Join Date: Mar 2002
State: Illinois
Professional Status: Certified Residential Appraiser
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Quote:
Originally Posted by bbr711 View Post
Can someone direct me to USPAP verbiage that limits appraiser discussion of value to only the client, ie - the lender?

In the past, it has sufficed for me to mention to the homeowner that I am legally bound to discussion of value with the lender alone when the lender orders the appraisal. This homeowner is different, and he has my email address...

I need to reference legal jargon before this gets more out of hand...

Thank you.

"No problem-o!"

No need to get all "legal-eese" with the owner. Simply state--and once should suffice (from my perspective)--that "whoever" is your client and all of your communication regarding the appraisal is between you and your client.

Finally, and in kind fashion, refer the homeowner back to the lender and let the lender deal with the problem.

Sometimes the more you try to "assist" or "educate", the deeper the hole you find yourself in. And, the "First Rule of Holes" is that once you find yourself in one, stop digging.
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  #8  
Old 09-24-2009, 03:54 PM
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Mike Kennedy Mike Kennedy is offline
 
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Quote:
Originally Posted by Dutchman View Post
Is it against USPAP (the rules) to ask an homeowner what they think it's worth???
Prior to completion of a report - nope. Is it advisable to do so-nope. After completion - nope, the homeowner (mtg appraisal) is not the Client.
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  #9  
Old 09-25-2009, 09:21 AM
Mike Garrett, RAA's Avatar
Mike Garrett, RAA Mike Garrett, RAA is offline
 
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Location: Colorado Springs, CO
State: Colorado
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I always try to head off any problems with a simple statement. First, I have about four questions I always ask a home owner about the property. Next I say..."OK, well that's all I need for now. I expect to complete the appraisal by XXXXXXXX and will be sending it electronically to the client (VA). You are entitled to a copy of the appraisal but you must request it from the lender, I can not give you a copy or discuss it with you as you are not my client".

If they ask me what I think the property is worth I reply..."I won't know that until I complete the appraisal. You can find that out from the lender". "Thank you for your assistance, have a nice day!"
And then i am out the door.

It works. Never have a problem after that.
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  #10  
Old 09-25-2009, 09:32 AM
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Riick Riick is offline
 
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^^^
Mike... I'm curious, What are the 4 questions you ask??

.
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