Which Form?

[Zoe]

USPAP has no problem with it as long as original client understands. Can't break original engagement with original client.

Public trust.

 

[ZZGAMAZZ]

Okay genius. What form do you use? Do you do a narrative? Do you let your client know?. Go ahead with all your wisdom.

Don't play stupid. You just completed an assignment for your client.

THANKS EVERYBODY. NOW HERE'S A REAL-LIFE WRINKLE IN THE SCENARIO:
I'm a licensed real estate salesperson as well as a res cert appraiser. I am affiated as an agent with a broker that has about 100 agents. I wish to offer my for-fee services as an appraiser to create a signed appraisal on a GPAR that a listing agent can use to market the listing, there being no guarantee of course that the appraisal will be at or above list, because its marketing potential otherwise is dulled. The template would include mucho disclosures and caveats about the potential conflict of interest, etc., etc. Five or ten of these each month would be a great source of revenue IMO, and lenders would be welcome subsequently to engage my services to provide a similar report using a FNMAE form, referencing prior involvement. I persume that the conservative bent of the AF will be very critical although I'm comfortable that the objectivity of each report woud defend against any allegations of impropriety. I might contact BREA and/or my E&O provider for advice. Comments????

 

[alebrewer]

I'd be reluctant to provide an appraisal service to anyone associated with the same Realtor group that I was/am associated with. Just doesn't pass the sniff test - no matter how many disclosures or how credible the results.

 

[sputnam]

Okay genius. What form do you use? Do you do a narrative? Do you let your client know?. Go ahead with all your wisdom.

Don't play stupid. You just completed an assignment for your client.

One more time. The OP did not do the original appraisal for the loan. The OP has been engaged by a Realtor to do an appraisal of the same property. The Realtor wants to use the OP's appraisal as ammunition in an ROV of the original appraisal. The Realtor is the OP's Client. The Realtor, and maybe the borrower or seller, are Intended Users. The Intended Use is to inform a challenge to the loan appraisal.

IMO, it's not the correct approach for the Realtor.... but, appraisers don't tell Realtors what to do. We don't tell Lenders what to do. We appraise. Obviously, we can offer advice.... but at the end of the day, our job is to develop and report opinions of value. The OP can accept or decline the assignment.

As for form, the GP form makes the most sense. Yes, of course, the report could be a narrative.. if that's what the Client wants and is willing to pay for.

 

[sputnam]

Okay genius. What form do you use? Do you do a narrative? Do you let your client know?. Go ahead with all your wisdom.

Don't play stupid. You just completed an assignment for your client.

One more time. The OP did not do the original appraisal for the loan. The OP has been engaged by a Realtor to do an appraisal of the same property. The Realtor wants to use the OP's appraisal as ammunition in an ROV of the original appraisal. The Realtor is the OP's Client. The Realtor, and maybe the borrower or seller, are Intended Users. The Intended Use is to inform a challenge to the loan appraisal.

IMO, it's not the correct approach for the Realtor... and the Lender may shoot the OP's appraisal down as evidence in a ROV but, appraisers don't tell Realtors what to do. We don't tell Lenders what to do. We appraise. Obviously, we can offer advice.... but at the end of the day, our job is to develop and report opinions of value. The OP can accept or decline the assignment.

As for form, the GP form makes the most sense. Yes, of course, the report could be a narrative.. if that's what the Client wants and is willing to pay for.

 

[sputnam]

Okay genius. What form do you use? Do you do a narrative? Do you let your client know?. Go ahead with all your wisdom.

Don't play stupid. You just completed an assignment for your client.

One more time. The OP did not do the original appraisal for the loan. The OP has been engaged by a Realtor to do an appraisal of the same property. The Realtor wants to use the OP's appraisal as ammunition in an ROV of the original appraisal. The Realtor is the OP's Client. The Realtor, and maybe the borrower or seller, are Intended Users. The Intended Use is to inform a challenge to the loan appraisal.

IMO, it's not the correct approach for the Realtor... and the Lender may shoot the OP's appraisal down as evidence in a ROV but, appraisers don't tell Realtors what to do. We don't tell Lenders what to do. We appraise. Obviously, we can offer advice.... but at the end of the day, our job is to develop and report opinions of value. The OP can accept or decline the assignment.

As for form, the GP form makes the most sense. Yes, of course, the report could be a narrative.. if that's what the Client wants and is willing to pay for.

 

[sputnam]

Sorry. I don't know why that got posted multiple times.