Please send me a copy of the appraisal

Please send me a copy of the appraisal when it is completed. I received this request just the other day from a homeowner for a refinance. I get this request on a regular basis from borrowers who are refinancing their homes and agents who are involved in a sales transaction, both seller’s and buyer’s agents. Yes, even seller’s agents. I explain to them that I am unable to send them a copy because they are not my client. However, they can request a copy from the lender. If they are the borrower, I let them know the Lender is obligated to provide them a copy of the appraisal under the Equal Credit Opportunity Act. Most borrowers are understanding, but some get very frustrated and insist I must send them a copy because they have paid for it.frustated cartoon

It is the lender who is my client and I have a responsibility to keep the information confidential with them. The Ethics Rule of the Uniform Standards of Professional Appraisal Practice (USPAP) requires the appraiser to keep the appraisal confidential. The appraiser cannot discuss or distribute the appraisal or his value opinion with anyone other than his client. My client is the party who orders the appraisal, not necessarily the party which pays for the appraisal.

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