May 20, 2020 - 09:17 AM
215. DOES A NEW ASSIGNMENT REQUIRE STARTING OVER?
Question: Advisory Opinion 26, Readdressing (Transferring) a Report to Another Party, and Advisory Opinion 27, Appraising the Same Property for a New Client, clarify that I cannot readdress an appraisal, and I must treat a subsequent request as a new assignment. Does that mean I must start from scratch since I would be performing a new assignment for a different client? Must I re-inspect the property?
Response: A new assignment does not mean that you must start from scratch. You must decide the appropriate scope of work for the new assignment. This would include a decision as to whether it is necessary to perform another inspection. The scope of work for the new assignment can be different from the scope of work completed in the earlier assignment. As with any assignment, you might be able to use information and analyses developed for a previous assignment. Appraisers are often selected for subsequent assignments specifically because of experience and demonstrated competency in a prior assignment. One must be mindful of obligations relating to the use of confidential information. The Confidentiality section of the ETHICS RULE states, in part: An appraiser must not disclose (1) confidential information; or (2) assignment results prepared for a client to anyone other than: • the client; • parties specifically authorized by the client; • state appraiser regulatory agencies; • third parties as authorized by due process of law; or • a duly authorized professional peer review committee except when such disclosure to a committee would violate applicable law or regulation.