Although the Home Value Code of Conduct expired in 2010, it’s adopted practices still prohibit Borrowers, Realtors, Loan Agents, and Banks from directly hiring Appraisers; unless it’s for a (ROV) Reconsideration of Value.

Which sadly means that the borrower has to pay for a 2^nd appraisal.  But in many cases it’s money well spent and can save the deal.

I’m Loring Greene, a State Certified Real Estate Appraiser that has appraised over 5,000 homes, commercial and income properties all over LA County since 1992.