COVID-19 Limiting Language

COVID-19 Limiting Language

From LIA Administrators & Insurance Services

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We can suggest the language below, but please note that due to the situation rapidly changing you should revisit our website regularly to stay up to date on any updates to the suggested language.

"The global outbreak of a “novel coronavirus” known as COVID-19 was officially declared a pandemic by the World Health Organization (WHO). The reader is cautioned, and reminded that the conclusions presented in this appraisal report apply only as of the effective date(s) indicated. The appraiser makes no representation as to the effect on the subject property of any unforeseen event, subsequent to the effective date of the appraisal."

With the permission of the Appraisal Institute, appraisers are referred to Appraisal Institute Guide Note 10 (Development of an Opinion of Market Value in the Aftermath of a Disaster) and Guide Note 12 (Analyzing Market Trends) for further guidance and assistance.

Please view Guide Note 10 and Guide Note 12 from the Appraisal Institute

Extra Resources

We have compiled the information below to keep you up to date and fully informed regarding appraiser specific topics relating to COVID-19.

Limiting Liability for Exterior Only and Desktop Appraisals
from LIA Administrators & Insurance Services "Claim Alerts"

Valuation Legal – Free Webinar
Published April 10, 2020. Legal and Risk Issues for Appraisers Stemming from the COVID-19 Crisis

The Appraisal Institute Professional Practice Coronavirus Update
Guidance from the Appraisal Institute.

The Appraisal Foundation - Coronavirus & Appraisers Q&A
Answers to questions regarding Coronavirus and Appraisers.

The Appraisal Foundation - USPAP 2020-21 Q&A
Form of guidance issued by the Appraisal Standards Board in regards to USPAP standards.

Fannie Mae - Temporary Appraisal Flexibilities
Guidance from Fannie Mae during the COVID 19 pandemic

Freddie Mac – Temporary Appraisal Flexibilities
Guidance from Freddie Mac during the COVID 19 pandemic

HUD - Temporary Appraisal Flexibilities
Guidance from the Department of Housing and Urban Developments during the COVID-19 pandemic

VA - Temporary Appraisal Flexibilities
Guidance from the Department of Veterans Affairs during the COVID-19 pandemic