Owner Wants Copy Of 3 Year Old Appraisal

[Bobby Bucks]

I don't like slippery slopes and I don't like working for free. You may decide to answer a few basic questions out of the kindness of your heart, but there will inevitably come a time where you realize that you shouldn't answer something or you're wasting too much of your own time..

There is also a point where one knows the borrower is asking questions one shouldn't answer, a threshold if you will, if one decides to cross that threshold it can be the equivalent of letting a vampire into your dwelling, once he's inside, the situation can only worsen. We've all learned this lesson at some point, mine was with the engineer from hell complaining that he had 2900 sf of unfinished basement and my report had 2892 sf. I should have never returned his call. IMO the best method is to be polite but firm from the get go, it will save many headaches down the road.

 

[residentialguy]

While a bit late for this...I have always put a letter in my report to the homeowner/borrower.

This report was created specifically for the Lender/Client stated above only. This is NOT intended for any purchaser to rely on the appraisal to influence the purchaser’s decision to buy the appraised property, nor is it intended to influence the homeowner in any decision regarding the property or financing. Even though you may pay an appraisal fee or later receive a copy of this report from the Lender/Client, this appraisal report that I have prepared is for the Lender/Client’s use only and written in language and format the Lender requested and understands. No other users are intended or inferred. You are not considered or authorized as an Intended User and are not to use or rely on my appraisal for your own purposes. This appraisal report and all of the appraiser’s work in connection with the appraisal assignment are subject to the limiting conditions and all other terms stated in the report. Any use of the appraisal by any party, regardless of whether such use is authorized or intended by the appraiser, constitutes acceptance of all such limiting conditions and terms stated here and within the report. The appraiser is not to be held liable in any unauthorized use of this report.

If you require an appraisal for your own use or are concerned about the property’s value or any conditions which may affect the property, you should engage an independent appraiser of your own choosing for that use. Because of my duties and confidentiality rules under the Uniform Standards of Professional Appraisal Practice which is upheld by state law, as well as my contractual agreement, company policy and other regulations and guidelines, I am not allowed to speak with anyone but the Lender about the results of this appraisal assignment or provide copies of the report to any other party. If you have any questions or comments regarding my appraisal, please contact the Lender/Client.


Sincerely,

ResGuy

 

[Mark K]

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 like that and think I'll include it in my Limiting Conditions. Only change for me will be the last word from "lender" to "client" since I do very little lender work.

 

[GA Benny]

Not exactly true. A VA appraisal is portable between lenders that are VA approved. Any VA approved lender can use a VA appraisal no matter what lender ordered it. The lender who ordered the appraisal, or the lender who uses it can provide a copy to the veteran. Most state laws require that they do so when requested to do so in writing.

While it is true that the lender may release it to the Veteran, they cannot give you as the appraiser permission to release it. You have an obligation to the client and in a VA appraisal, the VA is the client, not the lender. The lender is just an intended user. As a VA appraiser, you must have permission from the VA to release a copy of the report to ANYONE. If the new lender has the appropriate access to the WebLGY portal, there is no need for the appraiser to forward a copy to them. If they do not have access, they must request access from the VA.

 

[Amy Perkins]

They want it for a desktop appraisal because that's all they need now to get a loan. Tell them if they want a new appraisal you are available; they just want to use your living area because it's bigger and can get more money for the loan. It would cost him more money to subpoena it from you rather than have you appraise it again.

 

[Peter LeQuire]

. We've all learned this lesson at some point, mine was with the engineer from hell complaining that he had 2900 sf of unfinished basement and my report had 2892 sf. I should have never returned his call.

You could have suggested he call the police to report the theft............

 

[DWiley]

I like that and think I'll include it in my Limiting Conditions. Only change for me will be the last word from "lender" to "client" since I do very little lender work.

I would not add it as a Limiting Condition, because adding limiting conditions is prohibited. See pre-printed text on the Fannie forms about modifications. For non-GSE work, it would be fine, but not for GSE or agency work.

 

[DWiley]

"Owner Wants Copy Of 3 Year Old Appraisal"

As my dear Mother told me a million times growing up, people in jail want out.