Appraisal Sciences
2950 Buskirk Avenue
Suite 300
Walnut Creek, CA 94597

Phone: (925) 407-4774
Fax: (925) 606-6407
Web: AppraisalSciences.com
Email: Orders@AppraisalSciences.com

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Appraisal Sciences, LLC

Contract for Services
Terms of Use
Privacy Policy

SERVICE:

Appraisal Sciences, LLC (hereafter referred to as Appraisal Sciences) has developed AppraisalSciences.com (Service) to serve as a channel for placing appraisal service requests, tracking assignments, and receiving completed reports (Products). Use of the service is conditioned upon acceptance of all the terms of use set forth.

BY CLICKING “I AGREE”, YOU ARE INDICATING THAT YOU: HAVE READ AND COMPLETELY UNDERSTAND ALL TERMS OF USE, AND INTEND TO COMPLY FULLY WITH ALL TERMS AS STATED.

IF YOU DO NOT AGREE TO BE BOUND BY ALL TERMS OF USE, DO NOT CLICK, “I AGREE”, AND DO NOT USE THE SERVICE.

TERMS OF USE:

1. REGISTRATION PLOICY:

YOUR INFORMATION:

You agree to provide ACCURATE, CURRENT, and COMPLETE information required to register with the Service and at other points as may be required in the course of using the Service ("Registration Information"). You further agree to maintain and update your Registration Information as required to keep it accurate, current, and complete. Appraisal Sciences may terminate your rights to any or all of the Service if any information you provide is FALSE, INTENTIONALLY MISLEADING, INACCURATE or INCOMPLETE. You agree that Appraisal Sciences may store and use the Registration Information you provide for use in account maintenance and billing.

USER ACCOUNT AND SECURITY:

As a registered user of the Service, you may receive or establish an account ("Account"). You are solely responsible for maintaining the confidentiality and security of your Account. You should not reveal your Account information to anyone else or use anyone else's Account. You are entirely responsible for all activities that occur on or through your Account, and you agree to immediately notify Appraisal Sciences of any unauthorized use of your Account or any other breach of security. You acknowledge that you are authorized by your employer to order services and incur charges for such services that may be charged to your corporate entity by Appraisal Sciences. Appraisal Sciences shall not be responsible for any losses due to unauthorized use of your Account.

SECURITY:

You understand that the Service and products purchased through the Service, such as appraisal reports ("Products"), include a security framework using technology that protects digital information and limits your usage of Products to certain usage rules established by Appraisal Sciences and its licensors ("Usage Rules"). You agree to comply with such Usage Rules, as further outlined below, and you agree not to violate or attempt to violate any security components. Usage Rules may be controlled and monitored by Appraisal Sciences for compliance purposes, and Appraisal Sciences reserves the right to enforce the Usage Rules with or without notice to you. You will not access the Service by any means other than through software that is provided by Appraisal Sciences for accessing the Service. You shall not access or attempt to access an Account that you are not authorized to access. You agree not to modify the software in any manner or form, or to use modified versions of the software, for any purposes, including obtaining unauthorized access to the Service. Violations of system or network security may result in civil or criminal liability.

You agree that you will not attempt to, or encourage or assist any other person to, circumvent or modify any security technology or software that is part of the Service or used to administer the Usage Rules.

2. ORDER POLICY:

SUBJECT INFORMATION:

You agree to provide ACCURATE and COMPLETE information regarding the type of assignment ordered, the relevant subject property information, certain transaction information, and required documents for review. Failure to provide adequate data or documents will cause delays in processing orders and the completion/delivery of reports. Providing FALSE, INTENTIONALLY MISLEADING, INACCURATE or INCOMPLETE data may be cause for suspension or cancellation of services. Appraisal Sciences will not be responsible for any loss associated with failure to provide requested or required data at the time of order placement.

ESTIMATED TURN TIMES:

During the normal course of business, certain delays in delivering completed reports may arise due to: lack of sufficient and available information, changes in the scope of work, technological malfunctions, scheduling delays, billing delays, unanticipated increases in orders received, natural or weather related circumstances, acts of God, and any other unintentional cause for delay. Appraisal Sciences will make all reasonable attempts to maintain turn times, but may at any time revise them as needed. Report turn times are expressly indicated as “Estimated” and in no way will ever be interpreted as guaranteed.

FEES:

By placing an order, you agree to be bound by the billing associated with that order. Our fees for assignments are based on a very general preview of the individual assignment requested only. In cases where it is determined that the scope of work increases significantly from the point in which a fee and an estimated turn time have been assigned, Appraisal Sciences reserves the right to revise acceptance of the assignment, the fee, and the estimated turn time. Any client modifications to the assignment, after the order has been placed, may include additional fees and result in extended turn times.

SUPPLEMENTAL DOCUMENTATION:

APPRAISAL REVIEW ORDERS REQUIRE the successful delivery of the original appraisal for review from the client to Appraisal Sciences. We highly recommend that the delivery of these original appraisals utilize the document upload function provided through the appraisalsciences.com web order function. This requires that the document be delivered electronically in .PDF version to Appraisal Sciences at the time of order placement. If an electronic version of the document is not available in .PDF format, Appraisal Sciences will accept the document through fax transmissions. Fax transmissions are at times unreliable, result in unreadable text, or blackened/distorted pictures. Appraisal Sciences will not guarantee at any time that fax transmissions are received or complete from sender to Appraisal Sciences. Orders not placed directly through the web ordering service will be subject to additional fees for processing.

Appraisal Sciences will attempt to contact clients when original appraisal documents for review have not been received, or if further clarification relating to an assignment is required. If no clarification or original appraisals for review are received in a timely manner, Appraisal Sciences will reserve the right to cancel the order. It is your responsibility to monitor your account order history. Orders placed without required documents will not be processed until documents have been received. Appraisal Sciences will assume no responsibility for notifying clients that do not successfully upload original documents to orders at the time of placement, nor will Appraisal Sciences be held liable for any loss or damages related to orders that are cancelled due to the lack of necessary documentation being provided by the client.

Appraisal Sciences is required to review and analyze purchase contracts on all purchase transactions. Before any appraisal report will be completed, adequate review of the official terms of the sale as presented in a verified copy of the subject’s purchase contract is required. The purchase contract, subsequent counter offers, and all relevant addendums, must be signed by both parties (Buyer and Seller) to be considered adequate. Appraisal Sciences has provided a document upload capability to its online order screen to accommodate this requirement.

INVOLVEMENT OF SPECIFIC APPRAISERS:

Appraisal Sciences makes no guarantee whatsoever that any specific appraiser is approved by any client’s investors.

Reasonable attempts to accommodate requests for a specific appraiser’s involvement in an appraisal assignment will be made when possible. Appraisal Sciences DOES NOT GUARANTEE WHATSOEVER the involvement of ANY SPECIFIC APPRAISER OR APPRAISERS in any assignment.

If you determine that an investor requires a specific Appraisal Sciences appraiser’s involvement in an appraisal assignment, you must notify Appraisal Sciences WHEN PLACING YOUR APPRAISAL ORDER. Requiring specific appraisers to participate in the appraisal process (including but not limited to reviewing and acting as a supervisory appraiser on appraisal assignments) may result in: extension of estimated delivery dates and/or significant increases in standard fees for assignments.

3. USPAP REGULATION:

All appraisal assignments will be completed in accordance with the Uniform Standards of Professional Appraisal Practice (USPAP). ASSIGNMENTS ARE NOT SUBJECT TO ANY SUPPLEMENTAL STANDARDS AS DEFINED BY USPAP, UNLESS YOU OBTAIN A CONTRACT FOR SUCH SERVICES (AN ADDITIONAL FEE MAY APPLY). Government agencies, government sponsored enterprises, or other entities may have established standards different from USPAP and individual state law and regulations. If you are aware that any supplemental standards apply, you must notify us at the time the order is placed. A revised fee quote will be required.

Upon completion and receipt of the appraisal, you must read the appraisal carefully to determine that it will satisfy your requirements. If you need an additional scope of work, including inspection by a licensed appraiser or different appraiser, you should notify us immediately (an additional fee may apply). Appraisal Sciences will use its best efforts to comply with your request in a timely manner, but can make no representation and warranty that the additional work can be completed within any specific time frame or can be completed at all.

The function of all Appraisal Sciences appraisal reports is for financing/lending purposes only unless otherwise stated in writing. Any liability for any unauthorized use of our reports is limited to the amount of the appraisal fee paid. Furthermore, the noted client, as indicated on the top of each appraisal form, may only use our reports. APPRAISAL SCIENCES APPRAISAL REPORTS MAY NOT BE GIVEN TO AND MAY NOT BE UTILIZED BY ANY THIRD PARTY. The appraisers and appraisal firm will have no obligation to reissue our reports to any other party, other than stated above.

Pages 4, 5 and 6 of Fannie Mae Form 1004/Freddie Mac Form 70 (Pages 4-6) provide definitions, assumptions and limiting conditions, and certifications. While these provisions are binding for most appraisal assignments, additional clarification of these definitions, assumptions and limiting conditions, and certifications is provided below. THESE ADDITIONAL CLARIFICATIONS ARE LEGAL AND BINDING ON ALL USERS OF APPRAISAL SCIENCES APPRAISALS.

As stated on Pages 4-6 of the URAR, the Intended User is the lender/client stated on Page 1 of Form 1004/Form 70. Please note that certification #23 allows that the borrower may rely upon the appraisal as part of any mortgage financing transaction, however this reliance does not apply to any other purpose. THE BORROWER MAY NOT USE THE APPRAISAL FOR ANY OTHER PURPOSE THAN FOR A MORTGAGE FINANCING TRANSACTION. THE BORROWER MAY NOT USE THE APPRAISAL FOR OBTAINING INSURANCE, LITIGATION NEGOTIATION OR SETTLEMENT, PARTNERSHIP DISPUTE, FOR PURPOSE OF ESTABLISHING A SALE OR PURCHASE PRICE OR ANY OTHER PURPOSE OF ANY KIND.

The URAR (Fannie Mae Form 1004/Freddie Mac Form 70) and attachments developed by Government Sponsored Enterprises (G.S.E.) are commonly accepted appraisal forms in the industry. The forms include standard guidance, limiting conditions and certifications that may not apply to non-GSE transactions. Please be aware that secondary mortgage market investors may have guidelines that differ from GSE guidelines. Appraisal Sciences represents and warrants that its work products comply with the Uniform Standards of Professional Appraisal practice. However, APPRAISAL SCIENCES MAKES NO REPRESENTATIONS OR WARRANTIES THAT ITS WORK PRODUCTS COMPLY WITH SPECIFIC INVESTOR GUIDELINES OR G.S.E. GUIDELINES.

EACH CLIENT MUST BE AWARE OF ITS OWN INVESTOR GUIDELINES AND READ THE REPORT IN FULL, ALONG WITH ALL APPRAISAL SCIENCES ASSUMPTIONS, LIMITING CONDITIONS, AND CERTIFICATIONS, WHICH MAY BE DIFFERENT THAN THE STANDARD FORM LIMITING CONDITIONS AND CERTIFICATIONS, PRIOR TO MAKING A DECISION TO UTILIZE OUR REPORTS. PLEASE ADVISE APPRAISAL SCIENCES IMMEDIATELY IF YOU ARE AWARE OF ANY ERRORS OR CHANGES NECESSARY TO MAKE OUR REPORTS COMPLY WITH YOUR SPECIFIC INVESTOR GUIDELINES.

The Uniform Residential Appraisal Report form 1004, published by Fannie Mae, and Freddie Mac Form 70, in March 2005 include certification #2 which states: “I performed a complete visual inspection of the interior and exterior areas of the subject property.” Standards Rules 2-3, 6-8, and 8-3 of USPAP, clearly state that each appraiser signing an appraisal report must disclose a) whether or not he or she inspected the subject property and b) whether anyone not signing report provided significant professional assistance.

APPRAISAL SCIENCES MAKES NO REPRESENTATION OR WARRANTY THAT THE APPRAISER SIGNING THE REPORT HAS PERFORMED A VISUAL INSPECTION OF THE PROPERTY UNLESS STATED IN THE REPORT. IN CASES WHERE A SUPERVISING APPRAISER HAS NOT PERSONALLY INSPECTED THE SUBJECT OR COMPARABLE PROPERTIES, THE INSPECTING PARTY WILL BE IDENTIFIED AS REQUIRED BY USPAP. FULL DISCLOSURE OF ALL PARTIES INVOLVED IN PROVIDING PROFESSIONAL ASSISTANCE FOR EACH ASSIGNMENT WILL BE PROVIDED IN THE ADDENDUM OF EACH REPORT. THE SUPERVISING APPRAISER AND APPRAISAL SCIENCES ACCEPT FULL AND COMPLETE RESPONSIBILITY EACH INDIVIDUAL APPRAISAL. AT THE TIME OF THIS AGREEMENT, THE SOFTWARE WE UTILIZE TO PRODUCE OUR REPORTS DOES NOT PERMIT APPRAISAL SCIENCES TO AMEND THE STANDARD LIST OF FANNIE MAE CERTIFICATIONS. YOU AGREE THAT THE DISCLOSURE OF PERSONS INSPECTING THE SUBJECT PROPERTY, LOCATED IN EACH REPORT’S ADDENDUM, IS IN NO WAY MISLEADING IN GENERAL, AND AS IT SPECIFICALLY RELATES TO FANNIE MAE CERTIFICATION #2.

4. COPYRIGHT POLICY:

The delivery of Products does not transfer to you any commercial or promotional use rights in the Products whatsoever.

5. APPRAISAL SCIENCES SCOPE OF WORK/ASSIGNMENT CONDITIONS:

1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title thereto, nor will the appraiser render any opinion as to the title, which is assumed to be good and marketable.
2. Any sketch in this report may show approximate dimensions and is included only to assist the reader in visualizing the property. The appraiser has made no survey of the property.
3. The appraiser is not required to give testimony or appear in court regarding the appraisal or property in question, unless arrangements have been previously made thereto.
4. Neither all, nor any part of the content of any report, copy or other media thereof (including valuation opinions, the identity of the appraiser, professional designations, or the firm which the appraiser is connected), shall be used for any purposes by anyone other than the client and intended users as identified in the specific report, nor shall it be conveyed by anyone to the public through advertising, public relations, news, sales, or other media, without the express written consent of both the appraiser and the firm with which the appraiser is connected.
5. The appraiser will not disclose the contents of any appraisal report unless required by applicable law governed by the Uniform Standards of Professional Appraisal Practice.
6. Information, estimates and opinions furnished to the appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct. The appraiser assumes no responsibility for accuracy of such items furnished to the appraiser
7. The appraiser has noted in the appraisal report any adverse conditions observed during the inspection of the subject property or that he or she became aware of during the research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, property inspections, or survey techniques, the appraisal reports must not be considered as an environmental assessment of the property, a complete home inspection, or a property survey. Unless otherwise noted, the appraiser assumes the components of the subject property improvement(s) are fundamentally sound and in working order.
8. Appraisals involving hypothetical conditions related to completion of new construction, repairs or alterations are based on the assumption that such completion, alterations or repairs will be competently performed and completed satisfactorily.
9. Appraisal reports should not be used for a reliable basis for acquisition of property insurance coverage. The definition of value used in our appraisal reports is unlikely to be consistent with definitions of Insurable Value for property insurance use.

6. APPRAISAL SCIENCES CERTIFICATIONS:

All appraisers indicated in our reports certify to the best of their knowledge and belief that:

1. The statements of fact contained in our reports are true and correct.
2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are the appraiser’s personal, impartial, and unbiased professional analyses, opinions, and conclusions.
3. The appraiser, unless stated, has no present or prospective interest in the property that is the subject of the specific report concerned, and the appraiser has no present or prospective personal interest or bias with respect to the participants in the transaction.
4. The appraiser’s engagement in the assignment was not contingent upon developing or reporting any predetermined result.
5. The appraiser’s compensation for completing any assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, or the attainment of a stipulated result.
6. The appraiser’s analyses, opinions, and conclusions are developed, and the subsequent report(s) are prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.
7. The appraiser or appraiser’s assistant has made a personal inspection of the property that is the subject of the specific report.
8. The individuals involved in the preparation of our reports are clearly identified in each report, including the specific tasks each individual performed.

COST APPROACH TO VALUE:

The COST APPROACH TO VALUE SECTION OF THE URAR WILL NOT be provided in any report unless the inclusion is necessary for the development of credible appraisal results as mandated by USPAP. Appraisal Sciences will complete the Cost Approach to Value section of any report if requested FOR AN ADDITIONAL FEE if it is determined that the inclusion is not necessary to develop credible appraisal results. When the COST APPROACH TO VALUE is provided, the results will in no way be warrantable for insurable purposes. Appraisal Sciences does not in any way authorize the use of the cost approach to value to establish an insurable value related to the subject property, unless specified in writing. Upon request by the client, the cost approach to value will be provided, FOR AN ADDITIONAL FEE, when it is determined not to be necessary for the development of credible report results.

CONFIDENTIALITY POLICY:

You agree not to distribute or duplicate account specific data including that, which is related to product pricing, turn times, and scope of work agreements between you and Appraisal Sciences with any other party. Additionally, you agree that correspondence between you and Appraisal Sciences is always of a confidential nature and should be treated as such. Distribution of communication materials to third parties is firmly prohibited and may result in termination of all account services.

ACCEPTANCE OF AGREEMENT:

You agree that placing an order for products represents your complete acceptance of and agreement to use such products solely in accordance with the Usage Rules, and that ANY OTHER USE OF THE PRODUCTS MAY CONSTITUTE A COPYRIGHT INFRINGEMENT. The security technology is an inseparable part of the Products. The Usage Rules shall govern your rights with respect to the Products, in addition to any other terms or rules that may have been established between you and another party. Appraisal Sciences reserves the right to modify the Usage Rules at any time.

LIMITATIONS OF SERVICE AVAILABILITY:

You acknowledge that some aspects of the Service, Products, and administering of the Usage Rules entails the ongoing involvement of Appraisal Sciences. Accordingly, in the event that Appraisal Sciences changes any part of the Service or discontinues the Service, which Appraisal Sciences may do at its determination, you acknowledge that you may no longer be able to use Products to the same extent as prior to such change or discontinuation, and that Appraisal Sciences shall have no liability to you in such case.

The Service may offer interactive features that allow you to, among other things, submit or post information, materials or links to third party content on areas of the Service accessible and viewable by other users of the Service and the public. You represent and agree that any use by you of such features, including any information, materials or links submitted or posted by you, shall be your sole responsibility, shall not infringe or violate the rights of any other party or violate any laws, contribute to or encourage infringing or otherwise unlawful conduct, or otherwise be obscene, objectionable or in poor taste, and that you have obtained all necessary rights, licenses or clearances. You further agree to provide accurate and complete information in connection with your submission or posting of any information or materials on the Service. Additionally, you hereby grant Appraisal Sciences a royalty-free, non-exclusive license to use such materials as part of the Service, and in relation to Products, without any compensation or obligation to you.

Appraisal Sciences reserves the right not to post or publish any materials, and to delete, remove or edit any material, at any time in its sole discretion without notice or liability.

Appraisal Sciences has the right, but not the obligation, to monitor any information and materials submitted or posted by you or otherwise available on the Service, to investigate any reported or apparent violation of this Agreement, and to take any action that Appraisal Sciences in its sole discretion deems appropriate.

AGREEMENT TO PAY:

You agree to pay for all Products you purchase through the Service, and that Appraisal Sciences may charge your account for any Products purchased, and for any additional amounts (including any late fees, as applicable) as may be accrued by or in connection with your Account. YOU ARE RESPONSIBLE FOR THE TIMELY PAYMENT OF ALL FEES AND FOR PROVIDING APPRAISAL SCIENCES WITH A VALID CREDIT CARD OR ACCOUNT DETAILS FOR PAYMENT OF ALL FEES. All fees will be billed to the credit card, or the account, you designate during the registration process. If you want to designate a different credit card or if there is a change in your credit card, you must notify Appraisal Sciences immediately. Work will not begin on any assignment until payment for services has been SECURED, or an active account in good standing has been established and VERIFIED.

FEES FOR SERVICES:

Prices and availability of any Products are subject to change at any time for any reason. Appraisal Sciences reserves the right to decline or accept assignment for any reason whatsoever.

ELECTRONIC SIGNATURES AND CONTRACTS:

Your use of the Service includes the ability to enter into agreements and/or to make purchases electronically. YOU ACKNOWLEDGE THAT YOUR ELECTRONIC SUBMISSIONS CONSTITUTE YOUR AGREEMENT AND INTENT TO BE BOUND BY AND TO PAY FOR SUCH AGREEMENTS AND PURCHASES. YOUR AGREEMENT AND INTENT TO BE BOUND BY ELECTRONIC SUBMISSIONS APPLIES TO ALL RECORDS RELATING TO ALL TRANSACTIONS YOU ENTER INTO ON THIS SITE, INCLUDING NOTICES OF CANCELLATION, POLICIES, CONTRACTS, AND APPLICATIONS. In order to access and retain your electronic records, you may be required to have certain hardware and software, which are your sole responsibility.