I paid the broker 350.00 for an Appraisal Report to be done for my home purchase. I want a copy of the Appraisal Report but he is saying that it is only provided at Closing. Is this correct.
Please Help. Thank you.
2006-08-15 04:32:15 · 5 answers · asked by nyclastof9 1 in Business & Finance ➔ Renting & Real Estate
The broker cannot collect $350 upfront for your appraisal, unless he directly pays the appraiser on your behalf. When a broker pays the appraiser with the money you paid up front the appraisal report is yours, and you by law can request a copy prior to closing.
Our company pays the appraiser directly, and we are repaid at the close of escrow. If your loan does not close, we are out $350 and will provide you the copy or allow you to take our appraisal to another lender if you reimburse the $350 we paid.
2006-08-15 05:34:21 · answer #1 · answered by Jacque w 3 · 0⤊ 0⤋
Normally it would be provided at closing because that's when you would actually pay for it (as part of your closing costs.) If you've paid for it upfront I can't see that the broker has any right to withhold it from you.
2006-08-15 09:03:45 · answer #2 · answered by mockingbird 7 · 0⤊ 0⤋
Many places, value determinations do no longer ought to have plenty to to with exams as long as comparable homes are assessed comparably. So it would possibly no longer count what comparable homes offered for, that is their assessment that concerns. some states do have regulations that the assessment must be in step with the easy industry fee. whilst abode vIalues crash like the previous couple of years, they oftentimes do no longer re-learn. in the event that they did and values went down universal, the millage might basically be raised to make up the version, and tax might stay a similar.
2017-01-04 03:25:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You will be provided one at closing. Though that's not very friendly of him to withhold a copy if you requested it. It should be available (as are copies of everthing you will see at closing) for you to view. If he doesn't allow you to see it, you should have misgivings about what is on it. For example, re-zoning, flood plain, termite damage, etc.
2006-08-15 04:38:37 · answer #4 · answered by Luke K 2 · 0⤊ 0⤋
No he had to send a copy or e-mail to the mortgage company before underwriting will approve a mortgage. Ask again you paid for it. You could also ask your loan officer to get you a copy.
2006-08-15 04:39:29 · answer #5 · answered by accesscard 3 · 0⤊ 0⤋