Client
The party who engages the appraiser for an assignment. Under USPAP, the client relationship determines confidentiality obligations — in lender work the client is the lender, not the borrower, even when the borrower pays the appraisal fee.
Client identification matters more than most consumers realize. In a mortgage transaction, the lender (or its agent, such as an AMC) is the client; the appraiser owes the assignment results to the lender and generally cannot release the report to the borrower or discuss the value with other parties without the client's authorization. A homeowner who wants an appraisal answerable to them — for a pre-listing decision, tax appeal, or estate matter — can engage an appraiser directly and become the client themselves, with all the confidentiality protections that brings.
Related Terms
Intended User
The client and any other party the appraiser identifies, at the time of the assignment, as a user of the report.
Intended Use
The use or uses of an appraiser's reported appraisal or appraisal review as identified by the appraiser based on communication with the client at the time of the assignment.
Engagement Letter
A written agreement between the appraiser and client that outlines the terms of the appraisal assignment, including the property, intended use, scope of work, fee, timeline, and any special conditions..
Uniform Standards of Professional Appraisal Practice (USPAP)
USPAPThe nationally recognized ethical and performance standards for the appraisal profession, established by The Appraisal Foundation.
More in Appraisal Process
View allScope of Work
The type and extent of research and analysis performed in an appraisal assignment.
Effective Date (Date of Value)
The date on which the appraiser's opinion of value applies.
Extraordinary Assumption
An assumption that is directly related to a specific assignment and, if found to be false, could alter the appraiser's opinions or conclusions.
Hypothetical Condition
A condition that is contrary to known fact but is assumed for the purpose of analysis.