• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

client wants sample reports

Status
Not open for further replies.

Joe Milla

Thread Starter
Junior Member
Joined
Feb 13, 2007
Professional Status
Certified Residential Appraiser
State
Massachusetts
I have a potential client looking for 3 sample reports of propertys I have appraised in the past 3 months. I sent the samples excluding subject's address, borrowers name, and client. They rejected them stating they could not review these reports without subject's address. Can I give them subject's address only? Thankyou for your help.
 

Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
Technically, you can give whatever is public domain information. However, GLB law says you have to preserve the privacy of the individual. That would go to the interior photographs and interior descriptions of the house.

A physical address is pubic domain.

You could ask for permission from you client to use or give out those work samples.
 

larryhaskell

Senior Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Nevada
While addresses are public information, the fact that a property owner just had an appraisal completed on their home is not. I believe it violates your responsibility to maintain confidentiality by acknowledging that you completed an appraisal at a specific address.

Imagine if you will, what a homeowner might think if this new potential client called the homeowner that you completed the appraisal for and talked to them about about getting a loan. I see no legitimate reason why a potential client needs to know the specific address of the property you appraised.

If I remember correctly, I believe it may be a USPAP violation for you to provide a sample report that identifies the owner or address. I no longer give samples to potential clients so I haven't looked at the rules lately.
 

stefan olafson

Senior Member
Joined
Apr 2, 2003
Professional Status
Certified General Appraiser
State
North Dakota
I'd redact addresses, owners names, client names, and all adjustments and comments on how they were made.

That's proprietary information and you shouldn't be sending out samples with that info.
 

larryhaskell

Senior Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Nevada
FAQ No. 39

Check the 08-09 USPAP Frequently Asked question No. 39. Although not stated precisely, it states "redact all information that should not be provided to anyone other than the client, such as confidential information or assignment results." To me, this would include the address of the property you appraised.
 

TJSum

Elite Member
Joined
Nov 12, 2007
Professional Status
Certified Residential Appraiser
State
Maryland
I agree with what the others have said. With the reports being so recent, some of your samples may not have even gone to settlement yet, like Larry said the new lender could call the HO trying to steal them away from the client the reports were actually written for. If these potential clients do not understand these legal and ethical issues, maybe they won't be the best of clients...
 

Vernon Martin

Senior Member
Joined
Jun 8, 2005
Professional Status
Certified General Appraiser
State
California
I'm not claiming to have an answer here, but when I was on the lending side, it was policy to require work samples from prospective appraisers, and I found it awkward to review any work sample that did not have a subject property address. How can I judge comp selection, for instance? I had no need to know the name of the client or the property owner, however.

The only reason I requested a work sample was to judge the quality of the work, and I promised to keep the work sample confidential. Some appraisers complied; some didn't, but if I couldn't accurately gauge the quality of their work, they didn't go on to the approved appraisers list.

GLB concerns can best be alleviated by getting the property owner's permission beforehand.
 

larryhaskell

Senior Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Nevada
Vernon, I have to ask

Had I sent you a work sample back in your lending days but redacted the subject's address along with the other confidential info I wouldn't have been placed on your list because you felt awkward? But, had I sent you a work sample without redacting the subject's address but just put in a made up address I would have been placed on your list?

I do a fair amount of review work and the primary reason I need the subject's address is to verify specific information about the subject property. If the client were to allow me to assume that all information in the regarding the report was accurate I could still do a reasonable review.

In most cases, the information on the subject property is correct. Where I find most of the problems is related to items such as comp selection, adjustments, ignoring market data that indicate declining markets, etc.

When I did provide samples, I was never asked to include the subject's address. Sometimes I was even allowed to create dummy files with accurate data but addresses and borrower info was phony.

This potential client may have a reason for wanting the subject's address but needing it to judge the quality of someone's work is bogus in my opinion.
 

Bama Bayou

Senior Member
Joined
Oct 19, 2006
Professional Status
Certified General Appraiser
State
Alabama
Call three friends and make appraisals of their houses to use as sample reports. Get their permission to do so in writing. When your appraisals of these properties get stale, just reinspect and update them with new comps. This way you don't have to redact anything, and you will have a fresh supply of sample reports.

I would not call the friend with the 150 year old log cabin on 100 acres overlooking an oil refinery. Make them simple.
 

Abester

Senior Member
Joined
Jun 12, 2003
Professional Status
Certified General Appraiser
State
Florida
Or you can just tell them to buy three reports from you, and you'll consider if they can be on YOUR approved client list.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks