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Naming the Client

bnmappraisal

Elite Member
Gold Supporting Member
Joined
Nov 9, 2011
Professional Status
Certified Residential Appraiser
State
Florida
I've even had cases (not often, but definitely enough over the years) where the buyer/seller tells me NOT to have the agent (the person who REFERRED me to my client) as an intended user

That's always fun
 

Tom4value

Senior Member
Joined
Dec 4, 2016
Professional Status
Certified Residential Appraiser
State
Massachusetts
USPAP does not require that you name the client in the report (state that the client wishes to remain confidential) and just requires that the name is in the appraisal file.

Sounds to me that the owner and realtor are butting heads on price. Perfectly ok to have the owner your client. I would just make sure that the owner pays you.
 

Mark K

Senior Member
Joined
Jan 27, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
I just ask them to have their client call/email me to request the appraisal
….and to bring the check to my office up front. Learned that after a few times of trying to collect from an agent or the title company at closing or the buyer after they get the report, etc. Plus when they call you, you can discuss any concerns or knowledge they have about the property.

I've only done about a dozen of these over the years but I never contemplated putting the agent as client or intended user.
 

Basically Rectangular

Thread Starter
Junior Member
Joined
Mar 1, 2018
Professional Status
Licensed Appraiser
State
Virginia
Thanks for your input everyone.

I found a prior assignment that I performed which was similar (cash sale, agent calls me), where I described the situation in the engagement letter and named the buyer as the client, with the Real Estate Agent named as an agent of the client.

Something like "Mr Realtor has requested my services on behalf of Mr Buyer, who is currently under contract to purchase the subject property. Mr Buyer is the Client for this appraisal, Mr Realtor is acting as an agent to the Client for this appraisal and therefore may have access to the appraisal results and confidential information. "

I remember pondering the confidentiality issues with if I were sending the appraisal to someone who was not the client or intended user.

In the case of the original post for this thread, I had already completed the assignment and did name the agent as the client. I am considering revising it, although I might not since the agent was very involved in the appraisal (scheduling, communication, being present at the inspection, giving me comps and market data....)

Definitely on a general form.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California
Your client (Mr. Buyer) is free to give the report to anyone he wants or to give you written consents to disclose information and assignment results as he sees fit. It seems like you should be talking to Mr. Buyer about what he wants or needs at this point. For your work file.
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
and the FAQs cover the fact that who pays for it is irrelevant although several posters made it an issue. For Gods sake, you have to do a 7 hour update every 2 years, try and keep up. They change it occasionally but it has not been "substantially" changed in the almost 20 years I have been in the biz.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California
and the FAQs cover the fact that who pays for it is irrelevant although several posters made it an issue.
I read each and every response and did not see anyone who suggested that. The payment/check issue was just mentioned as a matter of business (never bill borrowers or other "civilians.")
 

Basically Rectangular

Thread Starter
Junior Member
Joined
Mar 1, 2018
Professional Status
Licensed Appraiser
State
Virginia
Payment has nothing to do with it, but I am not going to deliver a report to a party that is not the client if I don't cover it in the engagement letter. That could be perceived as a violation of the ethics rule. In the case of the assignment which I originally referred to, the buyer's purchasing agent did not want to be named in the report, but was inclined to be involved in every possible aspect of the assignment. I could have disclosed these relationships in the engagement letter and left the agent out of the report (which I may most likely consider in the future).
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
9 & 13 and implied in 10.
 

bnmappraisal

Elite Member
Gold Supporting Member
Joined
Nov 9, 2011
Professional Status
Certified Residential Appraiser
State
Florida
Since I'm the "#9" post you're talking about ... I'll answer for myself

It has NOTHING to do with who pays for the appraisal/report, and I am pretty upfront about this with my client

I let them know it has nothing to do with WHO pays me, it is the person who ENGAGES me that is the client

I also then go on to explain what "intended user(s)" means ... and this is where my post #11 comment means

Sometimes an agent refers me for a private assignment (sometimes it's pre listing, sometimes the property has been on the market, sometimes its...etc...)

The homeowner sometimes then tells me they do NOT want the agent (again, the person who REFERRED me to said client) to be an IU. I then comply (Confidentiality)

But NOWHERE in any of this conversation(s) does "who pays me" have anything to do with who my client is
 
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