Answers
Feb 08, 2019 - 03:27 AM
No, an appraiser cannot simply change the name of the client on a completed appraisal report.
A party wishing to obtain an appraisal report where they are identified as the client must engage an appraiser in a new assignment. But a new assignment does not necessarily require the appraiser to "start from scratch" and the appraiser may be able to incorporate much of the work from the prior assignment.
Also, if the two clients are federally regulated financial institutions, the Code of Federal Regulations (12 CFR 34.45) permits one institution to accept an appraisal performed for the other institution, without requiring a change to the client name.
A party wishing to obtain an appraisal report where they are identified as the client must engage an appraiser in a new assignment. But a new assignment does not necessarily require the appraiser to "start from scratch" and the appraiser may be able to incorporate much of the work from the prior assignment.
Also, if the two clients are federally regulated financial institutions, the Code of Federal Regulations (12 CFR 34.45) permits one institution to accept an appraisal performed for the other institution, without requiring a change to the client name.
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