If an appraiser is contacted by a different bank to "readdress" a report completed for another bank, what are the USPAP obligations?

The understanding of USPAP (Uniform Standards of Professional Appraisal Practice) obligations is fundamental when it comes to the readdressing of appraisal reports. In this case, an appraiser is asked to "readdress" a report completed for one bank, which involves changing the intended user of that report.

The requirement is that an appraiser must refuse to "readdress" the report because it would violate the original agreement made with the initial client. Reports are intended for specific users, as indicated in the intended use and intended user sections of the appraisal report. In order to maintain confidentiality and uphold the ethical standards set by USPAP, any form of modification or reassignment to a different client without permission is not permissible.

This ensures that all appraisals maintain their integrity and the data used within them remains protected, which is a core principle of USPAP compliance. Thus, the obligation to refuse the request for readdressing is consistent with the standards designed to promote professionalism and ethical behavior within the appraisal industry.