Due Diligence? Is this something real estate appraisers really need to know about? Just get the report back to the client quickly, right? It’s likely the client does not even read the report, right? Besides, at $450 a pop, you can’t spend a lot of time on the appraisal or report! It is true there are those among us with this mindset. True, clients may not read the report, but state investigators do! And you know what the want to see? They want to see due diligence and due care! Investigators do not care about the appraisal fee. A short turn-around time to an investigator is not important. Keeping the appraiser’s client happy is not the state board’s concern. What is? That the appraisal comply with Standard 1. And that the appraisal report comply with Standard 2. Basically, then, due diligence is straightforward. Follow Standard 1 when you’re appraising the property. Then, follow Standard 2 when you’re reporting the appraisal. Will client’s appreciate your hard work? Probably not. Expect a thank-you note from a reviewer? Don’t hold your breath! Keep yourself from your state board? Oh, and here’s a link to Ann O’Rourke’s newsletter. That will help with due diligence, too!