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#1550480 - 05/12/11 07:38 PM Appraisal and Purchase Price
Sugarbaker Offline
Gold Star
Joined: Nov 2005
Posts: 265
Do the new interagency appraisal guidelines and Reg Z valuation rules prohibit our real estate appraisal analyst from knowing the purchase price of a property? Does it prohibit our employee from sharing the purchase price with the appraiser? I believe I saw this, but can't put my finger on it. If someone could direct me where to find it I would appreciate it.
Thanks.

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#1550671 - 05/13/11 01:09 AM Re: Appraisal and Purchase Price Sugarbaker
jlroberts Offline
Diamond Poster
jlroberts
Joined: Sep 2009
Posts: 1,601
Ohio
The interagency appraisal and evaluation guidelines state that:

An institution may exchange information with appraisers and persons who perform evaluations, which may include providing a copy of the sales contract for a purchase transaction. However, an institution should not directly or indirectly coerce, influence, or otherwise encourage an appraiser or a person who performs an evaluation to misstate or misrepresent the value of the property.

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