Appraisal on Same Property for different client

[Terrel L. Shields]

No justification is needed. USPAP dictates that the appraiser is prohibited from doing so for three years.

I don't think there is a time limit under Grahm Leach Bliley-- Appraisers are fiduciaries under GLB Privacy Act

 

[glenn walker]

If I was original appraiser I would decline the order as its starting out on a bad foot. BUT as always there is way more to this story than we will never know

 

[George Hatch]

I know that talk is cheap but IMO some fees aren't worth earning. I would never voluntarily subject myself to the implication I was operating under a conflict of interest.

 

[Terrel L. Shields]

Another point. Once you have no license, you are free of USPAP. The same cannot be said of the GLB Privacy Act. It was like knowing top secrets about the Army or some system you are in. After you are out of service, you are still liable to protect that confidential information.

 

[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

For clarity, please tell us--What, EXACTLY, was CONFIDENTIAL?

 

[dahofman]

Hello all!

Thank you for the replies and Information. Our initial conversation initially was focused on the appraisal and the results. He informed us that he could not handle an appraisal on the property if the house was to be appraised later for the buyer. This was told to us by him from the offset. He set the expectation and now doesn’t want to follow through with his word.

To me, it seems like he is trying to double dip, but that is my opinion. I am concerned about how the original appraisal was handled and I am concerned about the opinions contained therein.

It has not been, in my opinion, the most professionally handled process. This is why I am concerned. My home is my largest asset. I worry about the skill of the person appraising it…especially when these kinds of issues are present. I also wonder why someone, unlicensed, is handling the selection of comparable properties when that person never even came to my home (and likely never visited the comparable properties either).

Signed,
Frustrated. :/

 

[Carnivore]

I would not accept the 2nd assignment. It's not because I can not, because I can with proper disclosures.

This does open me up to the appearance of impropriety. OTOH, I may appraise the property for a different Intended Use.

So never say never.

 

[George Hatch]

FOR ME, just the fact that the OP is questioning the decision is enough to prompt the withdrawal.

 

[dahofman]

Also, to those who think that I am concerned about the original valuation being different…that’s not it at all. I want someone who is going to stand by his word.

Let me ask you this…If a new appraiser is reviewing the same property and features, then shouldn’t the evaluation be close in proximity?

 

[Dublin ohio]

. I also wonder why someone, unlicensed, is handling the selection of comparable properties when that person never even came to my home (and likely never visited the comparable properties either).

Now that adds a little different twist to the situation. Sounds like your real issue goes way beyond "confidentiality"