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#313391 - 02/07/05 06:59 PM Real Estate Appraisals - Standards vs Examiners
Anonymous
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What would you recommend to do when the USPAP states that the appraiser is required to consider and report the current sales contract in the appraisal, yet the examiners (FDIC) tell you that there should be no reference to the sales contract, or balk at the appraisal when the sales contract and appriased value are very close?

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#313392 - 02/07/05 09:40 PM Re: Real Estate Appraisals - Standards vs Examiners
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 77,297
Galveston, TX
The USPAP does not require the bank to provide that information to the appraiser and it doesn't "require" the appraiser to have access to it. In fact, the Appraisal Standards Board has commented on what the appraiser should do if the parties will not disclose this information:

ADVISORY OPINION 1 (AO-1)
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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