Who "owns" The "appraisal Report"?

[residentialguy]

REQUIRED CONDITIONS FOR ANY USE OF THIS REPORT
Any use of this appraisal report constitutes that the Lender/Client and/or intended user has carefully read, acknowledges, understands, accepts and
agrees to all of the following three pages of certifications, disclaimers, clarifications, limiting conditions and notices of the appraiser, as well as those
listed in the additional comments within the report. This appraisal report and all of the appraiser's work in connection with the appraisal assignment
are subject to the limiting conditions and all other terms stated in the report. Any use of the appraisal by any party, regardless of whether such use
is authorized or intended by the appraiser, constitutes acceptance of all such limiting conditions and terms.

 

[residentialguy]

Clarification of Item #23 of the certifications listed on the pre-printed part of this report - page 6 of 6.
This certification is NOT to be interpreted as the appraiser is granting permission for use by other parties not identified as the intended user.
This is intended only for the stated intended user and intended use. This report is NOT intended for any purchaser to rely on the appraisal to
influence the purchaser’s decision to buy the appraised property, nor is it intended to influence the homeowner in any decision regarding the
property or financing. Certification #23 applies to the buyer or homeowner only in the sense that they are the mortgagor, therefore they rely on the
appraisal to fulfill the requirements of the lender; however the intended use and user never changes. Other lending institutions may rely on the
report for their requirements, however the intended use and user never changes. Appraisers are not required to adhere to specific assignment
conditions, terms, or requirements that were not disclosed at the time of engagement by the named client or client's agent. In the event that this
appraisal is used by any other secondary lenders that the loan is transferred to or sold to, this appraisal may not adhere to their specific requirements
and/or may not understand the UAD format. The appraiser is not responsible to have met any lender requirements other than those disclosed prior to
completion of the appraisal, nor is the appraiser responsible to clarify the terminology or report format requirements to other parties than the
client/intended user. This appraisal report is intended for the use of the client and other identified intended user(s) listed and once completed cannot
be reassigned or readdressed to another party. No other users are identified, intended or inferred by the appraiser, (including the borrower and/or
homeowner) and no other intent of use for this appraisal is to be inferred. The scope of work is set by the appraiser. Once completed, it cannot be
changed by the appraiser for another lender or use. "Transferring" by one lender to another lender does not also transfer the contractual relationship
between the appraiser and the original client of the appraiser. Nothing set forth in this appraisal should be relied upon for the purpose of determining
the amount or type of insurance coverage to be placed on the subject property or any other purposes other than lending, as defined in this report.
Should any terms and clarifications stated in this report be unacceptable, this report must not be used and a new report with acceptable terms must
be acquired.

 

[Eli]

REQUIRED CONDITIONS FOR ANY USE OF THIS REPORT
Any use of this appraisal report constitutes that the Lender/Client and/or intended user has carefully read, acknowledges, understands, accepts and
agrees to all of the following three pages of certifications, disclaimers, clarifications, limiting conditions and notices of the appraiser, as well as those
listed in the additional comments within the report. This appraisal report and all of the appraiser's work in connection with the appraisal assignment
are subject to the limiting conditions and all other terms stated in the report. Any use of the appraisal by any party, regardless of whether such use
is authorized or intended by the appraiser, constitutes acceptance of all such limiting conditions and terms.

I like it. Have you had it denied?

 

[CANative]

Then they would have to reject the appraisal. If they accept the appraisal, then it is allowed.

Stop causing trouble.

 

[CANative]

I like it. Have you had it denied?

If not it's an oversight. Residential guy should hope the borrower doesn't lose his job or something.

 

[residentialguy]

I like it. Have you had it denied?

Nope - never. That is my opening statement, so it's not like it's buried.

 

[residentialguy]

It is my report. I get to say what it means and how I interpreted everything in it. Courts have ruled for the appraiser because of such comments in their reports.

CAN on the other hand will not have them so he'll probably end up in the Can.

.

 

[djd09]

Clarification of Item #23 of the certifications listed on the pre-printed part of this report - page 6 of 6.

I love it. Is that copyrighted?

 

[DWiley]

I wish you were so articulate on the Sherman Antitrust Act. I understand.

REQUIRED CONDITIONS FOR ANY USE OF THIS REPORT
Any use of this appraisal report constitutes that the Lender/Client and/or intended user has carefully read, acknowledges, understands, accepts and
agrees to all of the following three pages of certifications, disclaimers, clarifications, limiting conditions and notices of the appraiser, as well as those
listed in the additional comments within the report. This appraisal report and all of the appraiser's work in connection with the appraisal assignment
are subject to the limiting conditions and all other terms stated in the report. Any use of the appraisal by any party, regardless of whether such use
is authorized or intended by the appraiser, constitutes acceptance of all such limiting conditions and terms.

OK - I will bite. How do you reconcile these comments with the fact that Fannie does not allow any limiting conditions to be added to the report?

 

[Riick]

Client has demanded full ownership of this appraisal. I hereby relinquish all my ownership rights and responsibilities to said appraisal in my conveyance of it to the client.

Great, so when the loan goes belly-up, you own the appraisal, and have all the rights and responsibilities, just like BofA buying smaller bank B, and then being sued for prior acts of Bank B.
Go sue yourself.