intended use

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Retrospective Field Review - No Intended Use

Dear H2,

I have an assignment for a retrospective field review, dated March 2006. I have asked the AMC to provide the intended use of the review appraisal. Their response is that they did not get this information from the Lender. My initial thoughts about responding to this situation are to: (a) clearly state this condition in the report; and, (b) provide an assumption of the intended use for the review and condition a possible revision if the assumed intended use is not correct. Is this the right way to proceed?

David L. Prymak
dlprymak@dlprymak.com
Dayton, TN

Dear David,

Statement 9 in the USPAP goes into detail as to why the appraiser must know the intended use of the appraisal. I am not aware of any exceptions to this rule.

HSH
askhenryharrison@revmag.com