Post-transfer Reporting Protocol ?

[ZZGAMAZZ]

Appraisal done for client A.
Transfer letter to Client B provided.

Because it's essentially the same appraisal, is the appraiser required to identify the report provided for the original client as "prior involvement"? And if so, would the appraiser describe the transfer process in the prior involvement disclosure statement and/or include a copy of the transfer in the report?

Does Client B need to provide an appraisal assignment/order/engagement?

Thank you.

 

[TerryRohrer]

The appraiser does nothing. Maybe spend some time reading USPAP, which has addressed this question in each version for a decade or two.

 

[glenn walker]

Appraisal done for client A.
Transfer letter to Client B provided.

Because it's essentially the same appraisal, is the appraiser required to identify the report provided for the original client as "prior involvement"? And if so, would the appraiser describe the transfer process in the prior involvement disclosure statement and/or include a copy of the transfer in the report?

Does Client B need to provide an appraisal assignment/order/engagement?

Thank you.

No your not assigning the report A is to B but you could deliver it but that's not a prior act.

 

[ZZGAMAZZ]

The appraiser does nothing. Maybe spend some time reading USPAP, which has addressed this question in each version for a decade or two.

Sir: If possible please clarify the "does nothing" comment. I'm often accused of doing nothing but didn't realize that it was formalized in USPAP, although I admittedly am about 3 deades behind in my research. Like the license plate slogan: "So much literature. So little time."

 

[ZZGAMAZZ]

No your not assigning the report A is to B but you could deliver it but that's not a prior act.

Thank you.

 

[Lee Lansford ASA]

Appraisal done for client A.
Transfer letter to Client B provided.

Because it's essentially the same appraisal, is the appraiser required to identify the report provided for the original client as "prior involvement"? And if so, would the appraiser describe the transfer process in the prior involvement disclosure statement and/or include a copy of the transfer in the report?

Does Client B need to provide an appraisal assignment/order/engagement?

Thank you.

"Transfer letter"? What does that have to do with you or me as appraisers? Answer: Nothing. Not at all. Or, am I not understanding your question?

 

[Dublin ohio]

Appraisal done for client A.
Transfer letter to Client B provided.

Because it's essentially the same appraisal, is the appraiser required to identify the report provided for the original client as "prior involvement"? And if so, would the appraiser describe the transfer process in the prior involvement disclosure statement and/or include a copy of the transfer in the report?

Does Client B need to provide an appraisal assignment/order/engagement?

Thank you.

You do nothing, period.

 

[Tom4value]

Appraisal done for client A.
Transfer letter to Client B provided.

Because it's essentially the same appraisal, is the appraiser required to identify the report provided for the original client as "prior involvement"? And if so, would the appraiser describe the transfer process in the prior involvement disclosure statement and/or include a copy of the transfer in the report?

Does Client B need to provide an appraisal assignment/order/engagement?

Thank you.

“Transfer letter”? If I am assuming right, “client” B wants to use an appraisal report you did for client A. If so:

If you do ANYTHING, you are violating USPAP. Client A is your client in perpetuity. I put client B in quotes because they are not your client. The “transfer letter” means nothing.

In the lending world, client A can give the report to non-client B. However, they have to accept it as-is. They cannot ask you to change the client name. They cannot ask you for revisions. If they say, “I have a transfer letter”. Tell them, “good for you! I am doing nothing.”

Now, what you can do is check your engagement letter from your client. If there is no stipulation that you can’t do another appraisal on the subject property for 3 years, you can contact “client B and offer to do another appraisal for them. Ask for their letter of engagement and give them your fee. If they accept, you build another appraisal file just for them and in the report you state that you did an appraisal on the property on such and such a date….that is it! No mention of client A’s name and definitely do not disclose any confidential information about the previous appraisal (I.e., how much you appraised it for).

 

[ZZGAMAZZ]

"Transfer letter"? What does that have to do with you or me as appraisers? Answer: Nothing. Not at all. Or, am I not understanding your question?

The letter (although I've never actually seen one] presumably "allows" an appraiser to generate an appraisal for a client that is different than the original client who "allows" that client to access the report...but I dont know if a new report with everything other than the client name identical to the original report. That's the reason I posted here... althouh implications of ur comment maybe is that an appraiser doesnt need to be involved in any way ???

 

[Dublin ohio]