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Should I do this appraisal?

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Debra

Thread Starter
Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Hey,

My aunt just told me that her husband and his 5 sisters are possibly wanting me to do an appraisal on their Mom's house. His Mom died this past saturday. Of course, I'm close to my aunt and uncle and know all the siblings and knew his Mom. I've never done an appraisal for this purpose before. Should I do this or not? If not, what can I say to nicely back out of it???...Thanks!
 
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Rice Brewer

Member
Joined
Dec 14, 2004
Professional Status
Certified Residential Appraiser
State
Arkansas
could you? Probably so. Should you? No, one should never complete an appraisal for a family member. You only have one family so why take the chance of alienating a member of that family?
 

Mike Boyd

Elite Member
Joined
Jan 18, 2002
Professional Status
Retired Appraiser
State
California
I would tell them you are prohibited from appraising the property of a relative but offer to refer them to another local appraiser. If you wanted to, you could offer to review another appraiser's work. I appraised a property for a friend years ago. He did not speak to me again for months because I came in lower than he thought it was worth. He also thought the house was larger than it really was and was certain I measured incorrectly. It is like borrowing or loaning money to a friend or relative. Not a good idea.
 

Andy Taylor

Member
Joined
Sep 22, 2003
Professional Status
Certified General Appraiser
State
North Carolina
What Rice & Mike said. It would most likely be a real PITA. Typically the spouse of one of the siblings will be a real azz during the whole process. As for an excuse to not do it tell them that USPAP doesn't allow you to do it. LOL
 

444nutman

Senior Member
Joined
Jun 20, 2007
Professional Status
Certified Residential Appraiser
State
Florida
I have always find when you ask yourself "should I do this appraisal" you should run away as fast as you can.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
You can do it, but I wouldn't because of personal past experience. I will not do anything for any friends who I want to keep as friends.
 

Wendy

Senior Member
Joined
Feb 23, 2004
Professional Status
Certified Residential Appraiser
State
Florida
Run, run, run! then run some more!

Refer them to somebody you know is good and don't get involved. Just tell them that you never mix family and work.
 

Lawrence R.

Senior Member
Joined
Mar 27, 2007
Professional Status
Certified General Appraiser
State
South Carolina
Future interest?

Maybe you could use that to get off the hook...Maybe one day that propety would be willed to you, so you could say you have a legal future interest in the property, and USPAP forbids you from doing the appriasal.

Or you could say you don't want to get in the middle of you backstabbing, bloodthirsty, moneygrubbing fami.....oh wait, that's my family.

Results may vary....
 

Ray Miller

Elite Member
Joined
Feb 20, 2002
Professional Status
Licensed Appraiser
State
Wisconsin
Nope, you will only make someone or a bunch of someones unhappy with you.

Others have given good advise.
 

Webbed Feet

Elite Member
Joined
Feb 11, 2005
Professional Status
Certified Residential Appraiser
State
Canada
Hey,

My aunt just told me that her husband and his 5 sisters are possibly wanting me to do an appraisal on their Mom's house. His Mom died this past saturday. Of course, I'm close to my aunt and uncle and know all the siblings and knew his Mom. I've never done an appraisal for this purpose before. Should I do this or not? If not, what can I say to nicely back out of it???...Thanks!

Ms. Debra,

I vote with everyone else! But I wanted to add something. Estate appraisals are one of the most underrated assignments when it comes to considering hazards to one's license I have ever seen. Many, many, appraisers approach them as if they are no big deal. I personally approach them as if they are total license killers! You are entering an emotionally charged situation with mulitple parties. Many of those parties almost certainly will have agendas. Most estate situations would make very entertaining reality TV shows. Just not for involved professionals with a license on the line.

Just even one party with an agenda adverse to the others will rapidly cause appraisal wars between multiple appraisers getting involved. Been there! Done that! ... In short, the you know what hits the fan. Versus most appraisers that do anything with almost no written engagement contract at all, an estate assignment needs one of the most detailed engagements you can imagine even to spelling out that ALL the relatives cannot be all constantly calling you on the phone like it is some tag team match. Define your client, intended users, very carefully, as well as any and all court costs no matter what anyone says they assure you will not happen.

Webbed.
 
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