Statement of Understanding for Appraisal Assignments
The appraisal fee being paid for this assignment is not conditioned on any agreement or understanding that the appraiser will report or guarantee a predetermined specific value, a predetermined minimum value, a range or direction in value, the value that favors the cause of any party, or the attachment of a specific result or occurrence of a specific subsequent event, such as approval of a pending mortgage loan application.
The appraisal fee is compensation for the appraiser to research and develop an unbiased opinion of the market value of the property in question, and provide a written report documenting the analysis. Once the appraisal process has begun, the appraisal fee is not refundable.
The manner of payment does not affect ownership rights of the appraisal report. Federal and state regulations dictate the completed appraisal report is the property of, and will only be delivered to, the individual, organization, or agent for the organization that directly engaged the appraiser. Borrower or other parties that pay for the appraisal, and that may be legally entitled to copies of the appraisal report, must obtain them from that source, and not the appraiser.
By clicking the icon below, you are acknowledging and agree to these terms.
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