• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Releasing Reports?

Status
Not open for further replies.

Willie

Senior Member
Joined
May 30, 2002
Professional Status
Certified General Appraiser
State
Tennessee
I did and appraisal for XYZ mortgage and know the borrowers. XYX Mortgage was paid $350 by the borrower for the appraisal. XYZ jerked them around and raised their rate over 2% for this and that. Now borrower wants to go somewhere else. Because of client confidentiality and because the appraisal is only 1 month old, I told them I must get a release from XYZ to release the appraisal.

My question to you is, and forgive me for not finding the answer by searching, which I did(I'm a clutz on internet), did USPAP change earlier in the year regarding updates? Can I change date of appraisal(looking for newer better comps,current market conditions) and send it somewhere else, even though it has only been a month? I don't have the new USPAP book. Again, I know this has been addressed, but I can't find the threads. If anyone can point me to the specific threads, that would be good enough. Thanks for your help.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
The request is a new order from a new client. You just can't disclose any confidential financial information provided by XYZ mortgage. Get whatever fee you feel appropriate for the work being done and have fun. The release is no longer needed.

Roger
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Will this never end? The appraisal you did belongs to Lender A. If they will not authorize it to be released to Lender B you have no choice but to do a new appraisal. Unfortunately the borrower is the one who gets shafted having to pay for two appraisals; however, they are also the beneficeries of a better loan. You can, of course, offer to reduce your fee since you have all the basic data already.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Like was said above, it's a new request.... new USPAP thang.
I'd get a new request from the new lender, and walk through for a new inspection date. The fee is up to you and is your personal business. But if it were me.... it would would not be full fee. ;)
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks