Profile picture for wakebd

Can I use an apprisal I just got through Wellsfargo two weeks ago?

  • March 20 2009 - Woodland
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Answers (2)

Profile picture for Lindsey M. Bishop

If you were originally going through wells fargo (even if you paid for the appraisal) they hired an appraisal company to complete the report. So the appraiser is contracted by Wells Fargo. You would have to ask wells fargo to contact the appraiser to release the report to your new lender. The appraiser can not just release it to you. The appraiser or wells fargo may charge a fee to do this as well. They may also refuse to do this.

You can contact the appraisal company directly and see if the appraiser would be willing to come out and re-do the appraisal for half the original cost and have it done in the new lenders name - that usually works and can be done more quickly. Also make sure the appaiser is on your new lenders approved-appraisers list and not black-listed.

Good Luck!

Lindsey :-)

  • March 20 2009
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Profile picture for The Strange Team
Depends on the new lender.  Check with them to see if they will accept it.  Usually it needs to be endorsed to the new user and there isn't much motivation for the issuer to do so.  Also, some banks have certain appraisal companies that they will accept appraisals from and wont' use them for anyone else.  Good luck.
  • March 20 2009
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