IF your contract with YOUR client was Limited to that client and Restricted to users limited by that contract and were EXPERT in the issues of R.E. your report was between the client and the appraiser. Many times in the past I’ve had clients dictate cap rates, not to use market rates, also these same clients refused to allow the appraiser to forward your report to another client.

When asked to give the homeowner a copy “I responded that the Lender had to”. Another inspection was made by the homeowner, and another fee collected, maybe a partial fee. We appraisers have fouled ourselves, those with chicken feathers compounded the fouling.

Lenders have found new sources which protect the security of the loan, other than equity. The government has become our greatest competition. When loans are guaranteed by a reliable source the lender choose the easiest route.

Out of state appraisers may benefit as well to the extent that a California case may be considered by your state boards or courts.

More and more sellers are accepting renegotiated (lower) offers when properties doesn’t appraise at sale price. They find a technical oversight or omission that can warrant opening a state complaint, and while that is winding through the estate process they turn around a file civil suit for damages! Regrettably too many E&O companies are settling rather than fighting this. We’ve seen E&O settle even before the state cleared appraisers.

Reminder, The American Guild of Appraisers routinely fights these kind of issues and will lend support our members or their attorneys in state or court cases. Contact janbellas@appraisersguild.org for more information.

Jeff Weeks from Angel Fire, NM haha sorry

I don’t know your name

Friend me on Facebook Matt

I will

Jeff, Please keep me/us up to date with what happens. I have had to deal with the exact same bull.

A novel idea but slippery slope. In the absence of state licensing having at least some validity towards regular enforcement, lenders would have to pass do not use lists. The only do not use list that should ever be shared from one lender to another, is the actual validity of state licensing via the asc. Search the term ineligible appraiser list, there is a lot there. Tag on a 1 year time frame limitation for recent events.

Just one of my 4 intended user statement boilerplates; Any use of this report by any party other than the named client is considered an unauthorized use. Appraiser does not assume responsibility for unauthorized use of this report.

How about this one? If any person whom does not hold an appraisers license provides any sort of review services, those persons are considered unauthorized users. Per Jeff, that’s why I follow various insurance lawyers advice, and absolutely never post the EO within the report itself. Cheers.

Yes. I have a complaint im dealing with right now that addresses this very issue. Third parties being mostly borrowers are looking for excuses they can use to cash in on E&O insurance policies. And if they simply don’t like the results they want to make life difficult for appraisers. State boards should immediately dismiss complaints from those who are not the intended user.