Owner Wants Copy Of 3 Year Old Appraisal

[Don Clark]

This is a 3 year old VA appraisal. The homeowner called me to get a copy of this appraisal.

I told him that I cannot release it without permission from the Mortgage Company
The Mortgage company lost the appraisal so they wrote me an email giving me authorization to release the appraisal to the homeowner.

He first said that he needed it for the measurements, now he says he needs it for his records

I have a bad feeling that he is going to use it for something bad. The county records has the wrong house, so my measurements showed the home about 150sf larger than county. Probably another appraiser measured it using county measurements, so he wants to challenge the newer appraisal.

Maybe he is using it to file a complaint against me. Who knows

Anyways, I need a good statement I can send this homeowner to decline his request for a copy of the appraisal. Something nice, but legal sounding.

Thanks!

The answer is NOT NO BUT HELL NO. The borrower is not your client. If the lender wants a copy they can request it. Better read the Ethics Rule again. Page 10, lines 304.

 

[residentialguy]

What Don said. Trust your instincts. You could offer to do a new appraisal

 

[Mark K]

Had a guy call the other day wanting a copy of an appraisal that I did for him for a refi that had to be over 20 years ago. Told him sorry, don't have it. He's going through a divorce and his attorney asked him if he had ever had the house appraised. I think the attorney must have meant recently and this guy didn't hear the recent part.

The att'y might have wanted a value as-of or at least closer to the marriage date. I've done retrospective date appraisals for divorces, some that were 10-20 years retro.

As to the OP, nothing good will come from handing out an appraisal to a homeowner.

 

[timd354]

This is a 3 year old VA appraisal. The homeowner called me to get a copy of this appraisal.

I told him that I cannot release it without permission from the Mortgage Company
The Mortgage company lost the appraisal so they wrote me an email giving me authorization to release the appraisal to the homeowner.

He first said that he needed it for the measurements, now he says he needs it for his records

I have a bad feeling that he is going to use it for something bad. The county records has the wrong house, so my measurements showed the home about 150sf larger than county. Probably another appraiser measured it using county measurements, so he wants to challenge the newer appraisal.

Maybe he is using it to file a complaint against me. Who knows

Anyways, I need a good statement I can send this homeowner to decline his request for a copy of the appraisal. Something nice, but legal sounding.

Thanks!

IF you don't want to send the homeowner a copy of the appraisal, then you simply should have told him that you do not send copies of appraisals to anyone after the fact. Instead, you told home that you cannot release it without permission from the Mortgage Company and now that you have been provided that permission, the homeowner has a reasonable expectation that you will send him a copy based on your prior statement. Thus, you should send him a copy of the appraisal.

 

[Deleted member 134708]

Do whatever you want, not what someone else wants.

Ignore him or give it to him with a $500 shipping and handeling fee.

 

[Terrel L. Shields]

Send to lender. Tell him to get from them.

 

[BRCJR]

Send to lender. Tell him to get from them.

I like it but, make lender ask for it.......

 

[J Grant]

Chances are the HO is not on a nefarious or litigious mission...it's very likely he is trying to do something, and wants the appraisal for it....such as a tax appeal, or a list price or he is getting a divorce etc....owners don't understand that appraisals are often outdated for certain purposes but that's for them to find out.

 

[Pittsburgh Pete]

The answer is NOT NO BUT HELL NO. The borrower is not your client. If the lender wants a copy they can request it. Better read the Ethics Rule again. Page 10, lines 304.

While he's reading the Ethics Rule, I would recommend that you reread his post that you cite.

 

[timd354]

I like it but, make lender ask for it.......

Why? In the end, the borrower will get his hands on a copy anyhow if the OP does that.

There is no need for the OP to be an a**hole just for the sake of being an a**hole.

The OP already caused the borrower to contact the lender by his initial response to the borrower and now the OP needs to to deliver a copy of the appraisal to the borrower as the borrower has caused the lender to address the OP's original objection to providing a copy.