Owner Wants Copy Of 3 Year Old Appraisal

[J Grant]

I agree with TMD...the owner likely wants it for some mundane non litigious purpose, so why antagonize them? The lender gave permission so it's irritating but just do it.

 

[hastalavista]

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 thew 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.

I agree.

If any appraiser does not want to be in the position to provide a copy of the appraisal report to a borrower (or other 3rd party) then they should not say "I cannot do so without permission from my client".

Rich Heyn, in this forum, provided some excellent advice on this matter which I've incorporated into my reports. In sum, a statement that says

The named client is the intended user for this appraisal report. I am precluded by regulation, contractual agreement, and by my company policy to discuss assignment results or provide copies of the report to any other party. Any such requests for information should be made directly to the lender.​

I bolded the above because Rich makes the case (as evident in this thread) that if the appraiser simply says, "I cannot talk with you/share the report with you unless my client gives its permission" then, if the client gives the permission, it paints the appraiser into a corner. If the appraiser cites it is his/her firm's company policy not to discuss, then everyone has been put on notice that regardless of permission or not, the appraiser will not (or does not have to) provide anything to anyone other than his/her original client.
Of course, the appraiser can always make an exception to that rule if he/she so desires (assuming permission to release the appraiser from maintaining confidentiality is given).

So, Rich's advice (which I jump on) is to add such a statement to a report and refer any 3rd party to it to avoid the situation the OP is facing.

Now, if I were the OP, I'd provide the borrower the report, and include the referenced statement in my reports going forward.

 

[Deleted member 134708]

If you supply it to him, I'd be getting compensated for the work. High Profile Attorney rate sounds about right. Multiple phone calls, reading an email. Etc

 

[Don Clark]

I agree with TMD...the owner likely wants it for some mundane non litigious purpose, so why antagonize them? The lender gave permission so it's irritating but just do it.

And you know that? How?

If being an A'Hole is protecting my ***, I will be one for that purpose.

 

[Don Clark]

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

I did read his post. Apparently you are all for increasing ones liability. I am not.

 

[timd354]

I did read his post. Apparently you are all for increasing ones liability. I am not.

How would providing a copy of the report increase one's liability Don? If the homeowner is going to sue, he is going to sue and if he files a lawsuit he can force the appraiser to furnish a copy of the report as part of the discovery process in any case.

I have no problem with appraisers who do not want to provide copies of their reports, but they need to state that up front not state that they can't do it unless the lender/client gives them permission then after the borrower/homeowner gets the lender/client to provide written permission, then not provide a copy anyhow.

 

[hastalavista]

If you supply it to him, I'd be getting compensated for the work. High Profile Attorney rate sounds about right. Multiple phone calls, reading an email. Etc

I think a handling/processing fee is reasonable.
I wouldn't go over board unless it was a PIA to find and pdf the report (but if and at what point one sets the price is a business decision).

 

[J Grant]

And you know that? How?

If being an A'Hole is protecting my ***, I will be one for that purpose.

I don't know that, but I believe those who want to sue go for it...their attorney would get the appraisal from tracking it down ( even if lender lost their copy, it exists elsewhere) people usually don't give a form of "heads up" by asking for a copy from the person they intend to sue...I could be wrong of course !

 

[GA Benny]

You said it was a VA appraisal. The VA is the client, not the mortgage company. Have the homeowner call the VA. They definitely have a copy and will be happy to send it to him.

 

[CindyR]

Here's a little bit of a different spin on this one. That part about the lender lost the appraisal?? OP said this is a VA appraisal. I just pulled up a 2013 appraisal on the VA Portal website so they must stay there for a long time. The lender could easily retrieve the lost appraisal there if they were inclined to do so. In any case i would be happy to email the appraisal to the borrower now that the lender client has given me permission to do so. And i would not consider charging the veteran for this nominal service.