Appraisal on Same Property for different client

[dahofman]

Hello,

I hired an appraiser to do an appraisal for my property. It was requested at the beginning that the information and results remain confidential to myself and my realtor. I put my property on the market after the evaluation. I received an offer. Now, the same appraiser is attempting to do the appraisal for the same property two weeks later. I know this can happen, but I wasn’t sure if he could do it after I requested confidentiality at the beginning? I feel like my rights are being ignored.

I never even heard that this was going to occur until the appraiser called trying to set up the new appraisal. He never contacted me to notify me of this new assessment.

I am greatly concerned about this because I’m concerned that he may share confidential disclosures with the lender.

I have asked him to decline this involvement.

Any advice?

Regards—
DH

 

[Terrel L. Shields]

He is required to avoid a conflict of interest and tell him that you will file a complaint with the state board. Call the bank, and call the Realtor handling it, and tell them that he has a conflict of interest because you requested confidentiality and he is about to break it.

 

[Zephyr999]

He is required to avoid a conflict of interest and tell him that you will file a complaint with the state board. Call the bank, and call the Realtor handling it, and tell them that he has a conflict of interest because you requested confidentiality and he is about to break it.

Wow, sorry but that's ridiculous...file a complaint. Where do you come up with this?

The results and information can remain confidential. Disclosure about a prior service must be disclosed but that doesn't include reporting the results.

To assume the appraiser would not honor the prior agreement also seems extreme and judgemental...we're expected to act as professionals and unless there's something to the contrary that's how most would proceed.

 

[Lee Lansford]

Hello,

I hired an appraiser to do an appraisal for my property. It was requested at the beginning that the information and results remain confidential to myself and my realtor. I put my property on the market after the evaluation. I received an offer. Now, the same appraiser is attempting to do the appraisal for the same property two weeks later. I know this can happen, but I wasn’t sure if he could do it after I requested confidentiality at the beginning? I feel like my rights are being ignored.

I never even heard that this was going to occur until the appraiser called trying to set up the new appraisal. He never contacted me to notify me of this new assessment.

I am greatly concerned about this because I’m concerned that he may share confidential disclosures with the lender.

I have asked him to decline this involvement.

Any advice?

Regards—
DH

This new appraisal is for the buyer's mortgage, right? This I assume to be the case.

The appraisal that you requested and received is done.

What the appraiser is doing now is a new appraisal assignment. The appraiser will not be disclosing the results of the appraisal that was done for you. "This" appraisal is not "that" appraisal.

 

[Lee Lansford]

Hello,

I hired an appraiser to do an appraisal for my property. It was requested at the beginning that the information and results remain confidential to myself and my realtor. I put my property on the market after the evaluation. I received an offer. Now, the same appraiser is attempting to do the appraisal for the same property two weeks later. I know this can happen, but I wasn’t sure if he could do it after I requested confidentiality at the beginning? I feel like my rights are being ignored.

I never even heard that this was going to occur until the appraiser called trying to set up the new appraisal. He never contacted me to notify me of this new assessment.

I am greatly concerned about this because I’m concerned that he may share confidential disclosures with the lender.

I have asked him to decline this involvement.

Any advice?

Regards—
DH

By your words, it was not agreed that the appraiser would not enter into a future appraisal assignment for your property.

You tell us that the agreement was that the "results remain confidential". In taking on the new assignment--which was not prohibited--the appraiser will not be disclosing the results of the appraisal done for you as the client. That's the story.

 

[George Hatch]

... I know this can happen, but I wasn’t sure if he could do it after I requested confidentiality at the beginning? I feel like my rights are being ignored.

If you requested confidentiality at the beginning then that counts. However, not all the info in an appraisal report falls under the definition of "confidential information"



So it somewhat depends on what your instructions at the time actually were and what type of information you are now trying to prevent this other party from discovering. I mean, there are some elements a property owner might want to obscure but which would be apparent to any appraiser regardless of who it was because they would spot it during the normal course of business. Suffice it to say there's a little more to the issue of client confidentiality than the mere term itself would otherwise seem to imply.


Now personally, I would NEVER have undertaken the 2nd assignment unless explicitly directed to do so by the original client, and even then I still might not. But that is a personal quirk and is not required of any appraiser under our professional ethics.

 

[glenn walker]

Hello,

I hired an appraiser to do an appraisal for my property. It was requested at the beginning that the information and results remain confidential to myself and my realtor. I put my property on the market after the evaluation. I received an offer. Now, the same appraiser is attempting to do the appraisal for the same property two weeks later. I know this can happen, but I wasn’t sure if he could do it after I requested confidentiality at the beginning? I feel like my rights are being ignored.

I never even heard that this was going to occur until the appraiser called trying to set up the new appraisal. He never contacted me to notify me of this new assessment.

I am greatly concerned about this because I’m concerned that he may share confidential disclosures with the lender.

I have asked him to decline this involvement.

Any advice?

Regards—
DH

The $99 Question is was his value lower than you expected or liked ?

 

[Fernando]

Appraiser still needs to disclose his/her prior relationship with the owner. If I was client, I wouldn't use appraiser.
I can see future problems for everyone.

 

[Terrel L. Shields]

The results and information can remain confidential.

NOT under GLB privacy. If the first client requires CONFIDENTIALITY then the appraiser must turn the 2nd assignment down. That is real clear in USPAP as well as Grahm Leach Bliley

What the appraiser is doing now is a new appraisal assignment. The appraiser will not be disclosing the results of the appraisal that was done for you. "This" appraisal is not "that" appraisal.

If the first appraiser is told to keep confidential a FACT - perhaps about prior damage or fire or any number of things - then NOT disclosing that to the second assignment because it is confidential is misleading and you have a huge conflict.

The $99 Question is was his value lower than you expected or liked ?

That won't matter. What will matter is WHAT was told to be confidential. This appraiser needs to turn down this assignment period. His/her risk is far too high.

 

[Dublin ohio]

I am greatly concerned about this because I’m concerned that he may share confidential disclosures with the lender

What "disclosures" are you worried about. What "confidential" information about the seller would concern the lender.