Confidential Information

[Lee SW IL]

In addition to what I said above.

I depends who wants to know. You as an appraiser can "share" information with your peers. It's part of the job in research and analyze. I have called other appraisers that appriased properties and I want more information.

However, if Joe Blow neighbor wants to know the GLA because he's nosey, sorry no can do. I would put the agent in the same boat. If the agent wants to disput my measurement, he can submit it to the lender and the lender can forward it to me.

Also, If the county assessor wants to know what I came up with for GLA, sorry no can do. They have the authority to do it themselves.

In my opinion, if you visit the property as an Appraiser (a PROFESSIONAL) then all information obtained during that visit is confidential. Its part of public trust. Would you disclose to the public that the HO had set up a room with mirrors, swings ect for sex and had **** tapes all over? Its not an illegal use.

If you visit the property during an open house, its open and common knowledge.

 

[StephHigdem]

This topic came up at one of my CE classes. The instructor said it was confidential & could not be used - he was from Vegas via Chicago. However, here in Idaho, a non disclosure state, we have routinely used FSBO sales, when we've done the sale appraisal, for comps. The instructor stuttered around that for awhile & allowed how he probably would too, but he still felt it may be a USPAP violation if someone was going to be following the letter of the law.

 

[Larboard]

The broker called and wanted to know the measured GLA. I, of course, refered her to the report of the appraisal assuming that the lender had provided her with a copy as is often the case.

I was informed that the lender was not providing a copy to the broker.

If it is for their listing, just offer to measure it for them for $XXXX.

 

[Nicholas Durante]

Good lord, nothing like turning everything into a pretzel. Measured GLA is not confidential information (unless the client specifically stated) otherwise an Appraiser could be forced into a situation of reporting something known to be wrong as factual. Example, a subject property is measured at 2,500sf; public records shows 2,200sf. The property then becomes a closed sale. The next subject is adjacent to the old subject and is a model match. So which GLA do you report? You use the 2,500sf based on physical measurements.

In instances of discrepancies between what is entered into MLS and what is entered into county records, I would respectfully that to rely upon recorded public records is the more appropriate action, as ANYTHING can be entered into MLS - recorded public records are what an underwriter would be comparing the data to anyways.


Nicholas

 

[Nicholas Durante]

In addition to what I said above.

I depends who wants to know. You as an appraiser can "share" information with your peers. It's part of the job in research and analyze. I have called other appraisers that appriased properties and I want more information.

However, if Joe Blow neighbor wants to know the GLA because he's nosey, sorry no can do. I would put the agent in the same boat. If the agent wants to disput my measurement, he can submit it to the lender and the lender can forward it to me.

Also, If the county assessor wants to know what I came up with for GLA, sorry no can do. They have the authority to do it themselves.

In my opinion, if you visit the property as an Appraiser (a PROFESSIONAL) then all information obtained during that visit is confidential. Its part of public trust. Would you disclose to the public that the HO had set up a room with mirrors, swings ect for sex and had **** tapes all over? Its not an illegal use.

If you visit the property during an open house, its open and common knowledge.

what kind of adjustment is appropriate for a sexroom, and how do I sign up for comp research?

lol

Nicholasd

 

[JSmith43]

recorded public records are what an underwriter would be comparing the data to anyways.

An underwriter probably won't go chasing down data sources and comparing what is found to what is reported in the appraisal. A reviewer will

I don't know about Orlando's public records, but public records in most areas are not as up to date as MLS records. MLS will have mistakes, public records will have mistakes. Public records are usually not up to date on additions or conversions (finish of expansion area, garage, porch to SF living area), for example.

The relative reliability of MLS and Public Records will depend upon the systems that are compared (will vary by location). This should be fleshed out as part of your scope of work. Your verification procedure and data sources should be outlined. It should fit the facts on the ground.

 

[Fred]

Do you considered measured GLA to be confidential information

Of course not. I suppose you could enter an agreement to keep it confidential, but it sure would look odd in an appraisal report leaving that out of the relevant characteristics of subject.

This topic came up at one of my CE classes. The instructor said it was confidential

Did he or she quote anything?

 

[Couch Potato]

No, its not confidential information.

Looking to get the feeling of the forum.

Do you considered measured GLA to be confidential information? At first glance, the answer is "no" because it is generally available online and through the local MLS. However, we all know that those sources often (always?) are incorrect.

I am asking about MEASURED GLA.

At second glance the answer is no, too. Your measurements are data that you gathered. Confidential information is stuff that is given to you and you are told it is confidential. The only way your measurements would be treated as confidential is if the assignment was to measure the house and report the measurements; which would make them assignment results rather than data gathered as part of an assignment. Data is yours, only the assignment results are confidential; the opinion of value (the appraisal, not the supporting data).

 

[George W Dodd]

In instances of discrepancies between what is entered into MLS and what is entered into county records, I would respectfully that to rely upon recorded public records is the more appropriate action, as ANYTHING can be entered into MLS - recorded public records are what an underwriter would be comparing the data to anyways.


Nicholas

The measurements are first hand knowledge when you inspect a property. Part of the Appraisers job is to reconcile the available data when there are conflicting sources of information.