Vendor agreements with "hold harmless"

[Pilgrum]

I am still working on it but I plan on including the following statement, once it is smoothed out, in all f my reports.

This appraisal report, in it’s entirety, is the intellectual property of the Appraiser, ****Name*** State*** License Number******
Any changes, alterations, modifications, alliteration or redaction of any part or portion of the report may change the validity of the entire report. In that event no responsibility by the appraiser will be assumed for any part or portion of the data or value opinions contained in the report.

 

[Bearslide]

I am still working on it but I plan on including the following statement, once it is smoothed out, in all f my reports.

This appraisal report, in it’s entirety, is the intellectual property of the Appraiser, ****Name*** State*** License Number******
Any changes, alterations, modifications, alliteration or redaction of any part or portion of the report may change the validity of the entire report. In that event no responsibility by the appraiser will be assumed for any part or portion of the data or value opinions contained in the report.

I do the same - but guess what - those type statements seem to disappear. I have SEEN the converted report against the original - and those type statements just magically disappeared. I think we were posting at the same time - see my post just before yours.

 

[PropertyEconomics]

Every report I sent out I send a blind copy to myself. I never open them I simply keep them stored on an external hard drive .... if the judge or appraisers board wants to see .. they can come to my office and I will open it for them.

 

[Bearslide]

Every report I sent out I send a blind copy to myself. I never open them I simply keep them stored on an external hard drive .... if the judge or appraisers board wants to see .. they can come to my office and I will open it for them.

No can do with AIReady...........

 

[PropertyEconomics]

No can do with AIReady...........

Personally ... not my problem. I dont ship in AI Ready ... they get pdf or they dont get. My report ... my rules.

 

[McPheeters]

Personally ... not my problem. I dont ship in AI Ready ... they get pdf or they dont get. My report ... my rules.

I wish it were your problem, the motivation for invlovement to solve the problem would no doubt be different. I'm not picking on you at all, I make that statement with all due respect. Appraisers with your level of understanding and intelect can only help us as a whole.

 

[PropertyEconomics]

I wish it were your problem, the motivation for invlovement to solve the problem would no doubt be different. I'm not picking on you at all, I make that statement with all due respect. Appraisers with your level of understanding and intelect can only help us as a whole.

Mr Woolley ... I take your post as a compliment and I thank you. The problem is there are as many, if not more, that helped create the AI issue, defend it with all they have, and assist those in charge to change it as need be to continue making appraisers lives hell. They too have a high level of understanding and are quite intelligent. The difference is they said Yes I can help you .. instead of Its my work product ... keep your damn hands off.
Read a few posts ... you will find out who they are. They say business is changing and therefore we all must change. They sign hold harmless agreements with their clients and say their attorney told them it was acceptable. They fight for AI Ready and say its ok to have your report be converted into a format that the appraiser didnt complete. They argue strongly that they are ethical and their business relationships with others are pure business. I remind them it only took two atomic bombs to bring an end to WWII on the deck of the USS Missouri ... well the first atomic bomb has gone off, ie the housing and financial crisis ... perhaps they wont pay attention until the next atomic bomb is dropped ... but I warn them .. the plane is in the air and will soon reach its target. Perhaps then they will see the light and understand the errors of their ways.
And as one side note to them .. if your attorney is stuipd enough to have you sign that hold harmless agreement ... then you have an attorney thats very much like an inexperienced appraiser ... only I will bet you overpaid for the advice. Mine is free .. you are a damn fool if you sign those agreements, but never fear, I hear the plane in the distance.

 

[Lobo Fan]

I have been in contact with the Aappraisal Foundation and Landsafe regarding this issue. Per the Appraisal Foundation, the appraiser's liability ends once the report is transmitted. Anything that happens to it after that is no longer my problem.

I have also queried Landsafe as they are the only one I have that may use AP one day. They would not say anything other than they were studying the issue. I asked specifically about AP altering reports after delivery.

I suppose there is a hypothetical situation. AP alters a report and the value changes from $250,000 to $350,000. The borrower defaults and a forensic appraisal determines that $250,000 was a good value. The borrower comes after me for over-valuing his property when in reality, my value was correct. Now where does the hold harmless kick in?

 

[Bearslide]

I have been in contact with the Aappraisal Foundation and Landsafe regarding this issue. Per the Appraisal Foundation, the appraiser's liability ends once the report is transmitted. Anything that happens to it after that is no longer my problem.

I have also queried Landsafe as they are the only one I have that may use AP one day. They would not say anything other than they were studying the issue. I asked specifically about AP altering reports after delivery.

I suppose there is a hypothetical situation. AP alters a report and the value changes from $250,000 to $350,000. The borrower defaults and a forensic appraisal determines that $250,000 was a good value. The borrower comes after me for over-valuing his property when in reality, my value was correct. Now where does the hold harmless kick in?

Bend over.......that's where it will kick in...............:icon_mrgreen:

But the scenario is more like this: the subject of your appraisal had a cracked foundation. You included photos and an addenda. The magical, mystical port decides they are not necessary to the lender (along with your certification pages and TOC). The loan gets done and nobody ever knew there was a potential foundation problem. THEN the lender ends up with the property back as a foreclosure. They come after you and the port. Guess what? Your bent over part is now grass because you agreed to hold harmless AND defend the port. And guess what else? The holder in due course could also make your client buy back that loan because they did not have a true, correct copy. The LENDER is responsible for that report. THAT is what they need to be made aware of.

And ....consider this....are you REALLY sure that what you THINK you are transmitting is what you sent? Are you REALLY sure the AF has it right? Might be a good time to call your software provider to find out what is REALLY happening. It's not quite the way it has been painted ........... yo-ho..........

 

[peturner]

Oh good God....now we are going to trust the Appraisal Foundation? The ones who after MONTHS of trying would not speak with Mitch Weiss? I bet they are real reliable and very confident right now. I surely hope the AF will come look after me when I get a compaint filed against me for an incomplete report....them and the GSEs.....boy, I am so glad we have them looking out for the best interests of appraisers. I aint seen it yet. They cannot even enforce their own rules....talk about a meaningless and toothless tiger......rant against the wind if you will