Thread Options
#2233662 - 03/25/20 06:45 PM Readdressed Appraisal
terpsfan Offline
Diamond Poster
Joined: Feb 2007
Posts: 1,973
Would it be considered a readdressed appraisal if the appraiser used the same effective date of a previous appraisal and put in the report that previously appraised the subject property as of the same as is date for another client? Seems to be the same thing if they are not updating the effective date but the third party appraisal reviewer says that it is ok.

Return to Top
Lending Compliance
#2233720 - 03/26/20 06:23 PM Re: Readdressed Appraisal terpsfan
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
Oklahoma
I can't see how that is okay. Seems like bad advise to me. There is no such thing as "readdressed". An appraisal belongs to the buyer. If someone else wants that appraisal they can get it assigned to them by that bank/buyer but you just don't put someone else's name on a current valuation and hand it over to another.
_________________________
Just working here until I get my letter from Hogwarts.

Return to Top
#2233745 - 03/26/20 08:49 PM Re: Readdressed Appraisal terpsfan
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,234
Galveston, TX
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top

Moderator:  Andy_Z