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Lender rating
Since January 2009
Lender rating
Since August 2009
Which lenders are the appraiser approved with? You could try submitting your loan to a lender that will accept that appraisal, if of course, there are any would be takers. Not a great option for you, but it's better than having to pay for a second appraisal.
And this might be something the realtor should compensate you for since, like Joe said, they should not be ordering appraisals in the first place without knowing whether or not a particular appraiser is even approved with the lender doing the loan.
By chance is this Realtor also trying to do your loan?
HVCC regulations required that appraisal ordered and done in an arms length manor (usually done thru appraisal management companies).
If your realtor has closed a transaction with in the last 6 months should know that.
Your appraiser is trying to pass on the cost of her ignorance to you.
I believe she should be the one to pay, and deduct the cost of the appraisal from her taxes under educational expense.
Lender rating
Since August 2009
Lender rating
Since January 2009
Lender rating
Since February 2009
Sean, FHA does not have a floor on score either, it is the investor policies and overlays.
The point we can all agree on is that; there is a conflict of interest, since the realtor involved and directly benefiting from the transaction has ordered the appraisal without regard to code of conduct. Now the realtor wants to buyer to pay for another appraisal that is just not right.
I speak to my banks policies; have not seen a (noncompliant) appraisal reassigned unless it is an HUD foreclosure, going FHA.
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An appraisal gone bad.
FDXRAMPER
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Now the realtor wants me to pay for another appraisal.
Is that fair?
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