3. Using the Appraisal

Can I reuse your appraisal for another purpose? 
Only if you receive our permission. Be aware that many financial institutions will not accept an appraisal performed for one of their competitors unless the first source provides a written release. Also, we are not required to testify in an assessment reduction case if the appraisal was done for something other than a tax appeal.
When ordering, please provide a list of all users of the report. We cannot change a client's name in a cover letter. We can add report users as necessary, however.

I want to use your appraisal for financing, but don't have a source. Can you prepare your appraisal for any lender? 
We can provide some guidance, but you should make sure your lender will accept our report before ordering. Lenders can have different internal guidelines, so knowing what is required helps prevent the additional time it takes to modify a report or do additional report analyses, increasing the time it takes to get a final product to the lender.

I paid for my lender for the appraisal, therefore I should own it.  Also, since I paid for the appraisal why can’t you discuss the value and/or your conclusions with me? 
The appraisal is legally owned by the client, unless the lender "releases its interest" in the document, typically in writing to us. If the lender ordered it, they own it. If you just want a copy of the appraisal, under the Equal Credit Opportunity Act you can given a copy of it upon written request of the lender.

Additionally, Appraisers are required by USPAP and Federal Law NOT to discuss the appraisal, valuation conclusions, etc. with anyone EXCEPT the client (typically the lender - whoever ordered the appraisal).  All questions should be directed through the representative you’ve been working with (at the bank, mortgage company, etc.) that engaged Robert P. Wood & Co., Inc. to perform the Appraisal (see #4)

Hettema Saba LLC
3307 Clark Rd. Ste 203
Sarasota, FL 34231

Phone: 941.926.0800
Fax: 941.926.2880
Hettema Saba LLC advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with federal, state and local laws. Copyright © 2011 Hettema Saba LLC.