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WHO ORDERS THE FHA APPRAISAL?? IS IT THE BUYER'S REAL ESTATE AGENT, THE BUYER OR THE SELLER??

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June 16 2010 - Normandy
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Answers (4)

If you have a lender in place then it is the buyers lender or mortgage company;  if you do not have a lender in the transaction; then it is the buyers agent or the buyer in some cases if they do not have an agent...
if you are buying some homepath financed properties; there may not be an appraisal required.

good luck;

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June 17 2010
The Buyer's lender orders the appraisal when all the documentation for the loan is gathered and verified.  Sometimes the loan officer is able to have the under writer give the loan package a quick review to get a heads-up on and conditions that need to be satisfied before loan approval.  The loan officer does not want you to spend money on an appraisal if there are glaring credit issues or you are waiting on an additional source of funds, say a gift from a relative.
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June 16 2010
None of those, it is actually the lender who orders the appraisal and it is paid by the buyer.
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June 16 2010
When buying the property the mortgage broker places the order for the appraisal.  So techinically on the buyers behalf the mortageg broker will order the appraisal.  Hope this helps!
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June 16 2010
 
Related Questions
WHO ORDERS THE FHA APPRAISAL?? IS IT THE BUYER'S REAL ESTATE AGENT, THE BUYER OR THE SELLER??
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Latest answer by Elisa Mullins, CPM, Broker
June 17 2010 | 4 answers
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