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Post-transfer Reporting Protocol ?

ZZGAMAZZ said:
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 ???
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Read USPAP. The first time ain't so bad. Pay attention when it talks about readdressing a report.
 
Thank you. I shall do so. A few of the responses were posted to debunk my credibility, granted as always, but I betcha like at least 60% of all appraisers arent familiar with the formal transfer letter concept. I personally dont respond to many OPs because I realize how little I know, but I sure AF would never take time to criticize a peer when it's just as easy to provide constructive advice. BTW your reference to USPAP is a response that IMO is very helpful. Regards.
 
ZZGAMAZZ said:
Thank you. I shall do so. A few of the responses were posted to debunk my credibility, granted as always, but I betcha like at least 60% of all appraisers arent familiar with the formal transfer letter concept. I personally dont respond to many OPs because I realize how little I know, but I sure AF would never take time to criticize a peer when it's just as easy to provide constructive advice. BTW your reference to USPAP is a response that IMO is very helpful. Regards.
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Hint: See AO26.
 
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Terrel L. Shields said:
That is because there is no formal transfer letter concept.
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What I kinda don't get is why the "alternative client" doesn't just order a new appraisal with a new effective date, and pay the same appraiser a nominal fee especially if the new assignment isn't too far removed from the original.
 
ZZGAMAZZ said:
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 ???
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A "transfer letter" is between lenders where one is sending the appraisal report to the other fir use by the 2nd. The appraiser has no involvement with this.

Barring an agreement--which would be highly unusual--between the appraiser and the first client that the appraiser would not appraise the subject for another client, you or I don't need the permission of the 1st client to enter into an agreement with the 2nd to appraise the property anew.

What we cannot do is send that 1st appraisal report to the 2nd client.
 
We cannot just change the lender/client name and send them the report either. It would take a new assignment for you to send anything to the new lender/client. I have seen many a transfer letter, but that does not change that we cannot "transfer" a report to a new client per USPAP.
 
TerryRohrer said:
The appraiser does nothing. Maybe spend some time reading USPAP, which has addressed this question in each version for a decade or two.
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Yep. The transfer is a Lender to Lender process. It has nothing to do with the appraiser... unless the new bank calls and wants revisions.
 
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