Does the Code prohibit the appraiser from communicating with real estate agents or third parties acting on behalf of the lender involved in the subject transaction?
No. The Code does not prohibit the appraiser from speaking with real estate agents or third parties acting on behalf of the lender. Information provided by real estate agents or any third party acting on behalf of the lender must be independently verified by the appraiser. An appraiser must certify that information received from anyone with a financial interest in the sale or financing of the subject property was verified by a disinterested party (see Appraiser’s Certification #10 on Freddie Mac Form 70, Uniform Residential Appraisal Report). It is not a requirement that the disinterested third party be another appraiser. Disinterested third-party sources may include, but are not limited to: public records, multiple listing services and other real estate agents that do not have an interest in the subject transaction.
Related Questions
- Does the Code prohibit the appraiser from communicating with real estate agents or third parties acting on behalf of the lender involved in the subject transaction?
- Is an appraiser prohibited from communicating with real estate agents or third parties acting on behalf of the lender involved in the subject transaction?
- Does the Code prohibit the appraiser from communicating with the realtor involved in the subject transaction?
