3 year rule on prior appraisal

[Fernando]

I did an appraisal last year and I have an assignment to do it again.
What is the procedure in regard to the 3 year rule?
Do I need to tell the client when I accept the appraisal or can I just later mention it in the report?

 

[andrew81]

both

If known prior to agreeing to perform an assignment, and/or if discovered at any time during the assignment, an appraiser must disclose to the client, and in each subsequent report certification: any services regarding the subject property performed by the appraiser, as an appraiser or in any other capacity, within the three-year period immediately preceding the agreement to perform the assignment.

edit//
you do not need to disclose anything else. some appraisers tell the second client who the prior client was, the effective date, and other things that are not required.

 

[Terrel L. Shields]

You tell the client that you have done this before within 3 years and wait for them to approve you going forward.

 

[Fernando]

If same client, I assume don't need to say anything.
Also, do I be as general and state I have done an appraisal within past 3 years without given out the date.

 

[andrew81]

If same client, I assume don't need to say anything.

The requirement is:

If known prior to agreeing to perform an assignment, and/or if discovered at any time during the assignment, an appraiser must disclose to the client, and in each subsequent report certification: any services regarding the subject property performed by the appraiser, as an appraiser or in any other capacity, within the three-year period immediately preceding the agreement to perform the assignment.

Also, do I be as general and state I have done an appraisal within past 3 years without given out the date.

You tell the client that you have done this before within 3 years and wait for them to approve you going forward.

All you have to say is:
I have performed one service, as an appraiser, regarding the property that is the subject of this report within the three-year period immediately preceding the agreement to perform this assignment.

You do not need to disclose anything else. Some appraisers tell the second client who the prior client was, the effective date, and other things that are not required.

 

[sputnam]

If same client, I assume don't need to say anything.

The requirement is per USPAP. It doesn't matter if it's for the same client or not. Yes.... you'd think that Client would 'remember' but, you must, if you remember, tell them before accepting the assigment and you must state it in the report. And as has already been said.... all you need to say is that you have (or have not) provided a service pertaining to the subject property during the three years prior to acceptance of this assignment.

 

[bnmappraisal]

I have one client (direct lender) who seems to do a good job in keeping repeat business.
This was their message in Mercury Network for the assignment - "Hey Brian - you have done this one before"
I guess "technically" maybe I should have responded with Yes I have appraised this before, but since they already acknowledged the fact...

I still had this in the final report "I HAVE appraised the subject property in the last 3 years (36 months) immediately preceding accepting this assignment."

 

[KONA]

Disclose it !!!!!

 

[Tom4value]

If same client, I assume don't need to say anything.
Also, do I be as general and state I have done an appraisal within past 3 years without given out the date.

I give the date but nothing else.

 

[Tom4value]

The requirement is:

If known prior to agreeing to perform an assignment, and/or if discovered at any time during the assignment, an appraiser must disclose to the client, and in each subsequent report certification: any services regarding the subject property performed by the appraiser, as an appraiser or in any other capacity, within the three-year period immediately preceding the agreement to perform the assignment.





All you have to say is:
I have performed one service, as an appraiser, regarding the property that is the subject of this report within the three-year period immediately preceding the agreement to perform this assignment.

You do not need to disclose anything else. Some appraisers tell the second client who the prior client was, the effective date, and other things that are not required.

Not only is it not required, but it is forbidden under the Confidentiality rule of USPAP. You can (and in my opinion, should) state the date but that is it. Disclosing the prior client and especially what you appraised it for is a clear violation.