Request for Letter of Reliance
Please fill out the following:
** The appraiser requires a written release from the original intended user to confirm that they no longer intend to use the report for this property as to allow the appraiser to proceed in issuing the Letter of Reliance so that another Financial Institution can use the report for mortgage financing.
Upon submitting your request you will receive an email with an invoice and payment options, where applicable.
Once payment has been received the letter will be drafted by the CRA and sent by email to the new underwriter along with the original report first thing on the next business day.
The requester will be CC'd on the email.
THE FINE PRINT - TAS' RIGHT TO REFUSE TO COMPLETE A LETTER OF RELIANCE:
Many parties relying on reports have little understanding of the limitations on use and distribution of report and that only the intended user identified in the report, or in a reliance letter, can rely on the conclusions.
It may seem that the only cost related to issuing a reliance letter is the clerical time associated with drafting the letter. However, the original report will now carry a greater claim risk due to the fact that a number of groups or individuals may have relied on the report. Consider the time involved in us having to revisit the file to assess the request, such as the review of the report and the work file, ensuring the report is compliant to the new intended users’ requirements, as well as time spent in relation to the request.
Liability risk has a cost that should be reflected in every professional service provided and to the risk associated with the work. If a 15-minute assignment comes back to haunt us or any of the parties as a liability claim, then the time involved with defending the claim will far outweigh the fee or the risk of us proving the letter.
Thanks for submitting! We will confirm receiptand respond with payment details shortly.