Please Help Settle A Debate

[D LANA]

Can an Appraiser appraise a home that their spouse is selling?

 

[JRS at OBX]

No. Absolutely not. Don't you think the fact that the appraiser would benefit from the spouse getting a commission would cause some concern??

 

[Joyce Potts]

Sorry, but I think that oversteps into the area that the appraiser monitarily benefits from that sale, even if indirectly. He/has an interest in it selling and closing.

No.

 

[Mike Boyd]

No, for the same reasons already posted. You should breath a sigh of relief. Can you imagine the pressure, even though it might be unexpressed, that you would have to make that specific value? It could even be a relationship buster!

 

[Ken B]

In theory, yes. An appraiser may have an interest in a property or parties to the transaction if that interest is disclosed in the certification. The appraiser cannot be biased with regards to the property or parties to the transaction. The appraiser would definitely have an interest in a party to the transaction. Only the appraiser can determine if they are biased or not.

In practice, it is a slippery slope which can create problems that may not be worth the fee associated with the appraisal.

 

[Bama Bayou]

You can appraise anything you want as long as you disclose, but I wouldn't touch it with a ten foot pole.

 

[Dennis J. Black ASA IFAS]

Can versus May versus Should.

 

[Offshore]

You stated this was to help settle a debate. What is the purpose of the appraisal? You stated a spouse was selling it. If it is for lending purposes, as stated previously, with disclosure technically yes, but it would probably be unwise. To establish a listing price I see not problem. If an appraiser is selling a property they personally own and are allowing someone else list it, are they going to not perform an appraisal of the property?

 

[stefan olafson]

You may but don't! As with other answers, it doesn't matter what the purpose is, what the use will be, who the client is, etc....

Even if you disclose everything, there are just too many chances for it to go all wrong and it's not worth the $??? fee you'd charge!

 

[Michigan CG]

CERTIFICATION


I hereby certify that I have no interest, present or contemplated, in the property described herein; and that neither the employment to make the appraisal not the compensation is contingent upon the value placed on the subject property, nor any other results arrived at in this assignment.

Neither my engagement to make this appraisal (or any future appraisals for this client) nor any compensation therefore is contingent upon the reporting of a predetermined value or direction in that favors the cause of the client, the amount of the value estimate, the attainment result, or the occurrence of a subsequent event.

I certify that I have personally inspected the property, and that, according to my belief and knowledge all statements and information in this report are true and correct, subject to the contingencies and limitations stated elsewhere in this report.

This appraisal report sets forth all of the limiting conditions (imposed by the terms of my assignment or by the undersigned) affecting the analyses, opinions and conclusions contained in this report. As of the date of this report, I have completed voluntary requirements of the continuing education of the Appraisal Institute.

This appraisal report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice of the Appraisal Foundation, and is subject to the requirements of the Code of Professional Ethics and Standards of Professional Practice of the APPRAISAL INSTITUTE. The use of this report is subject to the requirements of the Appraisal Institute, relating to review by duly authorized representatives.

I certify that I am competent to complete this appraisal report in accordance with the competency provision as set forth by USPAP, and certify that I have acted in an independent capacity and the appraisal assignment is not based on a requested minimum valuation, a specific valuation, or the approval of a loan.

In arriving at the analyses, conclusions and opinions concerning real estate contained in this appraisal report, I have consulted with other analysts and appraisers, and hereby acknowledge their professional contribution to the analyses, conclusions and opinions concerning real estate set forth in this appraisal report.