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Intended Use/intended User Of An Appraisal

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Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
If I am buying or refinancing a home and I am paying for the appraisal, why am I not an intended use?

Let's assume I am signing the mortgage and the appraisal I paid for was for the mortgagee.
 
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Tom D

Senior Member
Gold Supporting Member
Joined
May 22, 2015
Professional Status
Certified Residential Appraiser
State
Pennsylvania
you are with FHA. you weren't before.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
2016-17 USPAP AO-36: Identification and Disclosure of Client, Intended Use, and Intended Users
 

DWiley

Elite Member
Joined
Apr 4, 2007
Professional Status
Certified Residential Appraiser
State
Tennessee
The "intent" in the phrases intended use and intended user is a reference to the intent of the appraiser, not the intent of any other party
 

Eli

Elite Member
Joined
May 12, 2007
Professional Status
Certified General Appraiser
State
Tennessee
I just don't like the system with the borrower/homeowner relying heavily on the appraisal even though they are not an intended use/user because I feel like they are. I can look them in the face and say I was as unbiased as possible and explain to them any unconfidential information I can if they ask.

The main perpetrators of mortgage fraud were not homeowners/borrowers or the public in general.
 
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djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
The bankers and their devilish agents do not operate on USPAP. They need to keep the public in the dark. The borrower only needs to pay for the appraisal and they will take care of the rest. More free market.
 
Joined
Jun 2, 2007
Professional Status
Certified General Appraiser
State
Florida
Why would a borrower wish to be designated as a user? I can only think of two - to mis-use the appraisal (for an unintended purpose that might require a greater scope... i.e. IRS, litigation, etc.) and/or to have legal recourse to pressure/punish an appraiser for any number of reasons. The way it is reduces these possibilities and keeps the appraisal at arms length so the loan is more saleable.
 

KHS445

Member
Joined
Aug 20, 2011
Professional Status
Appraiser Trainee
State
Michigan
Looking at it from a simplistic standpoint, the buyer has already (prior to the date of the appraisal) made the decision to purchase the property and the lender is using the appraisal to decide if they are going to finance the transaction.
 

djd09

Elite Member
Joined
May 20, 2009
Professional Status
Licensed Appraiser
State
Ohio
In all reality there does not need to be a named intended user, only an intended use. More controlling and dividing from our friends from above.
 
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