Doug in NC
Elite Member
- Joined
- Jan 17, 2002
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
This is a first for me. I have never done an appraisal for one buyer, then when that deal fell through, asked by a different lender for a new appraisal of the same property. I know to treat this as a new assignment, but naturally I will be able to re-use some of the information.
How do you treat these requests? Disclose the prior appraisal and treat it like a completely new order - including similar fee. I ask because I read a fine print requirement from a lender recently that stated:
"[FONT="]You must disclose if, during the last three years, you or anyone with your firm has prepared or is preparing an appraisal or other related service in connection with the subject property."
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How do you treat these requests? Disclose the prior appraisal and treat it like a completely new order - including similar fee. I ask because I read a fine print requirement from a lender recently that stated:
"[FONT="]You must disclose if, during the last three years, you or anyone with your firm has prepared or is preparing an appraisal or other related service in connection with the subject property."
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