• 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.

Rules for providing sample reports to a potential customer

Status
Not open for further replies.
Joined
Jan 28, 2003
Professional Status
Certified General Appraiser
State
North Carolina
A commercial loan officer wants to add me to his list, but he needs sample reports. I've seen some people provide a copy without getting approval from the original client. They simply blacken out sensitve information and provide it to the prospect. Can you do that, and what sensitive information is crossed out? :? :?
 

George Hatch

Elite Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
California
When you're talking about "confdential information or assignment results" you're covering an awful lot of ground. For instance, the technical portion of the appraisal assignment is defined as including analysis, opinions and conclusions. This type of information is specific to the subject property and the assignment at hand and is not available elsewhere. Where do you find analysis, opinions and conclusions in an appraisal? Basically, anywhere in an appraisal report where it says "analysis" or "comments", which is pretty much everywhere in the appraisal report.

There are those who believe that you can submit a live appraisal report as a sample without the client's permission simply by eliminating either the confidential information (which includes all the analysis, opinions and conclusions) or by removing all reference to identify which property this confidential information being passed on belongs to. Either of these methods may be possible, but both are basically self-defeating because if there is no analyses, opinions or conclusions in the report or it is there but cannot be compared to a specific property then the client has no way of determining whether the work is reasonable. The potential client has no way to compare the work under submission without having it in it's entirety.

This is why it's easier to comply with these requests either by doing sample reports that are not live assignments for clients (build-to-suit), submitting old reports where the appraiser knows the client is finished with them (like they did the deal or the report is really old) or else get permission from one of your clients to use a report that they're already finished with as a sample. Any other method is really a half-measure.


George Hatch
 
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