Profile picture for nklay1

Is the mortgage company required by law to give a copy of the appraisal report to the buyer?

Is the mortgage company required by law to give a copy of the appraisal report to the buyer?
  • March 18 2009 - Columbus
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Answers (10)

Profile picture for lsgordon02143
Furthermore it is part of the new Code for Freddie Mac that buyers are entitled to copies of *all*/*any* appraisals that they paid for on a property.
--LG
  • February 10 2010
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In SC you sign a form that says you have a right to receive a copy. I have always forwarded the pdf to the client immediately upon my receipt.

The "who pays for it" argument gets all twisted. The appraisal is done for the Lender, and the Lender cuts the check to the appraiser, but the borrower pays the Lender, and it shows up on their side of the HUD1. This said, I have had appraisers say the Lender is their client, not the Borrower, and refuse to give the Borrower a copy. They say the Lender must do this. Blah Blah Blah...
  • January 15 2010
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The delivery can very based on the type of loan. If you paid for the appraisal you should recieve it. During your loan application you should be presented with the right to recieve appraisal form.

  • January 15 2010
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Not sure what laws would cover this, but it has been my experience that buyers can obtain a copy from their lender without much difficulty since buyer has paid for it.  Most of the time it is in the closing file that the closer brings to closing.  But best to request it ASAP if you have a concern.  However, if there was an appraisal issue you would probably not be having a closing anyway until any issues were resolved.
  • January 15 2010
  • 0Yes

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Profile picture for wpeng5040
Bank needs to give you a copy, if you paid for it.
  • January 11 2010
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Profile picture for sunnyview
I would want to see my appraisal before closing and I would not tolerate them sitting on it. If the bank won't give it to you, call the appraiser for a copy. You paid for it, get it.
  • March 19 2009
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They absolutely have to give it you if you're the Buyer and you paid for it.  The bank definitely has it-because that's who required it-so ask them or ask for it at closing.
  • March 19 2009
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Profile picture for sunnyview
I think so because you paid for it. If they don't, I would call the appraiser and ask them for a copy.
  • March 18 2009
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Profile picture for nklay1
Yes, we actually pay for it as part of our closing costs.  Does this vary state by state?  We live in Ohio and are doing a FHA, 30 yr.
  • March 18 2009
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Profile picture for Ben Link
Yes, if you as the consumer paid for it.
  • March 18 2009
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