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How to provide copy of older appraisal

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Woodworker

Thread Starter
Sophomore Member
Joined
Oct 23, 2006
Professional Status
Certified Residential Appraiser
State
Pennsylvania
About a year ago I appraised a house for a lender that is no longer in business. I just got a call from the homeowner asking for a copy of the appraisal since they never got a copy of it. The homeowner feels entitled to a copy of it since they paid for it (as would I if I were in their shoes) but since the lender was my client I can't give them a copy without the client's consent. Since the client is no longer in business I can't get their permission to provide a copy to the homeowner. I hate to tell the homeowner that I can't give them a copy because it looks bad on me, in their opinion. How do you all handle a situation like this?
 

leelansford

Elite Member
Joined
Mar 29, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
Get over hating to tell the homeowner what you can not do.

Tell the homeowner that you can not provide the appraisal. Somewhere in the mortgage lending string there exist the appraisal. The homeowner will just have to dig a bit deeper to get it.

And, for all you know, the homeowner may want the appraisal because they are looking for something in it that they can use to sue you. Not to worry you, but think about it. WHY does the owner really need the appraisal now that they have closed on the loan????
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Really. Do you think that would be the end of it? They would be taking that report to another bank and trying to get an "update" or they are looking for a way to weasel out of the deal they got into...Tell them, GLUCK and SOSOREE..you gonna hafta find those records yourself.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Tell the homeowner that you can not provide the appraisal. Somewhere in the mortgage lending string there exist the appraisal. The homeowner will just have to dig a bit deeper to get it.

There is a limited amount of time and a specified procedure for the borrower to have a right to a copy of the appraisal. After one year, it's probably too late.

And after one year, there is probably no good reason (from your viewpoint) why they would want a copy of the appraisal.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Don't go into a hour long USPAP lesson about what you can't do, give them an option that they can do. I just say that the lender is our client and we are bound by privacy laws, much like a doctor can't discuss test results with anyone but their patient. You have to get a copy from the lender. Usually a copy of the report is included in the closing package, unless they signed a waiver saying they didn't need/want it.

And here's another idea. Did you try to convert the call into a new order? Show a little salesman skills and ask why they needed it? After a bit of discussion, you may could turn it into a request $$$.:D
 
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Rich Heyn

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Michigan
About a year ago I appraised a house for a lender that is no longer in business. I just got a call from the homeowner asking for a copy of the appraisal since they never got a copy of it. The homeowner feels entitled to a copy of it since they paid for it (as would I if I were in their shoes) but since the lender was my client I can't give them a copy without the client's consent. Since the client is no longer in business I can't get their permission to provide a copy to the homeowner. I hate to tell the homeowner that I can't give them a copy because it looks bad on me, in their opinion. How do you all handle a situation like this?

November Q&A from the Appraisal Standards Board:
When does Appraiser-Client Confidentiality End?

Question: I performed an appraisal assignment for a lender client who has subsequently gone out of business. Now the borrower is requesting a copy of the appraisal from me since the company is defunct and there is no way to contact them. Does my obligation for appraiser-client confidentiality end since the client no longer exists?

Response: No. USPAP has no provision for terminating appraiser-client confidentiality. An appraiser is required to comply with the requirements of the Confidentiality section of the ETHICS RULE, regardless of the status of the client.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
The simple answer to the home owner is...."Sorry, I can't do that even though the lender is out of business due to the confidentiality section of the ETHICS RULE of the Uniform Standards of Professional Appraisal Practice".
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
What do uniforms have to do with me getting MY appraisal!?!
 
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