COVID-19 Limiting Language

From LIA Administrators & Insurance Services


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.

Appraisal Institute Webinar
Published March 23, 2020. COVID-19 Rapid Response and Latest Developments

BULLETIN to Freddie Mac Sellers / Selling Guidance Related to COVID-19
This bulletin includes temporary guidance related to property valuation requirements and more.

Fannie Mae Modified Instructions for Scope of Work, Statement of Assumptions and Limiting Conditions, and Certification for Desktop Appraisals
Released March 23, 2020. For Desktop Appraisals using COVID-19 temporary flexibilities and reported on Fannie Mae form 1004, 1073, 1025, 1004C, or 2090.

Fannie Mae Modified Instructions for Scope of Work, Statement of Assumptions and Limiting Conditions, and Certification for Appraisers with Exterior-Only Inspection
Released March 23, 2020. For Exterior-Only Appraisals using COVID-19 temporary flexibilities and reported on Fannie Mae form 2055, 1075, 2095, 1004C, or 1025.

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

The Appraisal Foundation - USPAP 2020-21 Q&A
Issued March 17, 2020. Form of guidance issued by the Appraisal Standards Board in regards to USPAP standards.

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

Valuation Legal - Free Webinar (Slides Only)
Legal and Risk Issues for Appraisers Stemming from the COVID-19 Crisis

Veterans Benefits Administration – Circular 26-20-11
Published March 27, 2020. Department of Veterans Affairs issues guidance on Valuation practices during COVID-19.