VMG provides an Appraisal Independence Requirement (AIR) certification to our clients for each appraisal assignment we manage. The AIR certification states (among other things) that there was independence in the assignment of the order to the appraiser and that no inappropriate communication relating to or having an impact on valuation between the client, the appraiser or other interested parties.
In order for VMG to provide this important certification to our clients, any communications between the client and the appraiser (outside of communications by the client’s designated senior management who are unrelated to the production function), relating to or having an impact on valuation or the management of an appraisal assignment, should be avoided.
To avoid situations that could break the chain of appraiser independence or that could be interpreted as inappropriate communication, we strongly encourage our clients and appraiser partners to follow the best practices as noted below:
- Should questions arise relative to the scope of work, appraisers are to contact VMG for clarification and instruction before proceeding any further.
- Should a client require revisions to a report that has already been reviewed and delivered, the client should contact us so that requests of the appraiser are made by VMG.
- Should a client desire to submit a request for reconsideration or dispute a factual aspect of the appraisal, the client should contact us so that requests of the appraiser are made by VMG.
- If an appraiser is contacted by a party to the transaction requesting revisions to an appraisal where the appraiser was originally engaged by VMG, the appraiser is not to proceed but rather direct those requests to VMG for handling.
Please click here to access our AIR Certification.
VMG maintains an appraiser independence hotline for reporting any attempted influence or impropriety at 877-836-7163 or email at email@example.com
Valuation Management Group’s primary mission is to institute an environment where true appraiser independence and quality commercial and residential appraisals can be obtained.