Profile picture for user9911186

When does the buyer get the appraisal report. my lender is saying that I will get it at closing. Wha

We liked a house and put an offer on it. After some back and forth, we agreed on price. Appraisal is complete and when I ask my lender about the appraisal, they are saying that I will get it at closing. With some lenders, I heard that they will provide the appraisal right after it is back from appraisar. What is the standard proceedure in the regard.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2012 - Hopewell Township
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (29)

Grrr, just realized this question was from months ago, was re-booted with a completely different question, then answered very well by Vince....
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 07 2013
There is no reason why you shouldn't receive a copy of the appraisal after it's received. A GOOD loan officer will automatically send it to you. You have a right to receive a copy of it, per the disclosures, but if you are dealing with a BIG lender, it's likely that you may have to formally request a copy per their contact guidelines.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 07 2013
Who chose the lender? Who pays for the Appraisal? If the answer is you, then demand a copy of the Appraisal unless they give an answer that you find satisfactory.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 07 2013
I have a buyer who ordered an FHA appraisal last week, it was performed yesterday, and we had it back this afternoon. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 07 2013
Profile picture for SoCal Engr
"Appraisals are usually back to the bank in about 2 weeks after they are done!"

In my case, the appraiser was onsite on Friday and the appraisal was in my inbox the next Wednesday. It doesn't  seem like it should make a difference, but mine was for a refi vice purchase.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 07 2013
As the buyer, you paid for the appraisal therefore should receive it before the closing.  Appraisals are usually back to the bank in about 2 weeks after they are done!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 06 2013
Profile picture for SoCal Engr

My experience is with a refi in SoCal, but I received an email copy of the appraisal direct from the appraiser, pretty much at the same time it was sent to my mortgage broker.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 06 2013
The lenders i work with provide a copy to the buyer, who actually pays for it and owns it as soon as it comes in.  Lender's and their policies may vary but I have never heard of a lender tellign the buyer, who is paying them for a loan, who paid for the appraisal they have to wait until closing to see it.
Best of luck
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 06 2013
Can a buyer contact the appraiser directly after receiving their copy of the appraisal?
 
Sure

I had one done and the appraiser will not talk to me, even though it is my name, along with my lender, on the appraisal and I paid for it in advance before appraisal was performed?

Due to the new HVCC rules, more 'firewalls' are built between we appraisers and lenders, and hence borrowers. Sadly one of the downsides is that there is little to no communication anymore between a borrower and appraisers. Since we do not get paid by the borrower DIRECTLY anymore, most appraisers find little incentive to talk the disgruntled borrowers, post loan.

WHY do you want to talk to the appraiser ? Im not clear, given your question.

If its a simple question, click here to find out their contact phone number - which should also be on the appraisal, maybe not - and give them a call....




  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 06 2013
Profile picture for user5685873
Can a buyer contact the appraiser directly after receiving their copy of the appraisal?  I had one done and the appraiser will not talk to me, even though it is my name, along with my lender, on the appraisal and I paid for it in advance before appraisal was performed?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 06 2013
not withstanding the Dodd-Frank 3 day requirement (which can be waived) I think it gets down to the loan officer.

Where I work we're told not to give it to the buyer until after it has been underwritten ; however most of us, being type A loan officers, ignore that and provide it to the borrower when we receive it.

The reasoning for not providing it is that when we first get it it has not been underwritten and that it could change.


In general, borrowers will get a copy from appraiser 
========================
no they won't. To the appraiser, the lender is the client and he/she will provide it only to the lender.



Does any one have a sample request letter that i can utilized
==============
Did you call your loan officer? Try that first.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 20 2012
Profile picture for user7298241

Does any one have a sample request letter that i can utilized?  I would like to send a written request to my lender for a copy of the appraisal.

Shawn.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
December 19 2012

Dodd-Frank  http://www.sec.gov/about/laws/wallstreetreform-cpa.pdf provided for amendments to the Truth in Lending Act requiring appraials be provided 3-days  BEFORE closing.  Reference:

Subtitle F—Appraisal Activities - SEC. 1471. PROPERTY APPRAISAL REQUIREMENTS.

Chapter 2 of the Truth in Lending Act (15 U.S.C. 1631 et seq.) is amended by inserting after 129G (as added by section 1464(b)) the following new section:

‘‘§ 129H. Property appraisal requirements

[EXCERPT]

( c ) FREE COPY OF APPRAISAL.—A creditor shall provide 1 copy of each appraisal conducted in accordance with this section in connection with a higher-risk mortgage to the applicant without charge, and at least 3 days prior to the transaction closing date.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 10 2012
Based on the Equal Credit Opportunity Act (ECOA), borrowers are entitled to get a copy of the appraisal report after it has done.  In general, borrowers will get a copy from appraiser and also your loan
originator will send it by attachment to you for reference too. You
don't need to wait till the closing.

For my borrowers, I always send an appraisal report to them for
reference after appraisal has done.  So, they can evaluate what the
appraisal value vs offer price for property they bought.    

Have you contacted with your loan originator for this report?

Erinna Tsai

 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 09 2012
I do have a question first before I can answer . Did they verbally tell you the house appraised? If so, speak with your mortgage lender directly and ask why you are not entitled to a copy of it immediately. If you do not receive the answer your looking for than have your real estate attorney get involved. He should be able to get a copy for you. I have never had a problem with clients getting a copy of their appraisal ahead of time, and I have been in business for 29 years. Good luck, hope everything works out :)
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 09 2012
You should get it as soon as it's finished. Not that it would,but it may influence your decision to buy that particular property. You paid for it, you should get it in a timely manner.
Rusty Watts
Coldwell Banker Beachside
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 08 2012
The lender is required by law, under the Equal Credit Opportunity Act (ECOA) to inform the borrowers that they are entitled to a copy of the appraisal report.

Specifically, Section 202.14(a)(2).

Now of course they have 30 days within which to provide a copy after written request is made, so it may or may not really affect the closing.

Raheel Shahzad, Attorney, CPA, Real Estate Agent
Lombard, IL
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 08 2012
Ther is no standard procedure for this but I would say that if your lender is not willing to share it with you as soon as they have it then find a new lender. This is something that new buyers should ask upfront. There is no reason that the lender should not share this information with you as soon as they get it.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 07 2012
Profile picture for user9911186
I got it before closing and before commitment. i was constantly asking them the reason why they cant give me the appraisal since I paid for it. I was about to show them the replies from this forum if they decline it, but they gave it to me without much resistance later.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 07 2012
You got it before closing ?  or after ?

Its crazy, but from a borrowers POV they want it ASAP, but from the lenders POV, they dont want to give it out at all (but are required to by law).

BTW - since most appraisals are done via an AMC, appraisal managment company, they and the lender control when it is given to the borrower, not the appraiser...

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 05 2012
Profile picture for user9911186
After couple of emails, i finally got the appraisal report. thanks everyone.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 05 2012
If my buyer paid for the appraisal, they get it when completed. I usually get them a copy emailed to them right away. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2012
Have you paid for the appraisal or will the funds be collected at closing?  It is your lender's decision.  If there is a problem with the value the appraiser will contact the lender.  At that time, the lender will call the agents.  I also suggest that the buyer request the appraisal to keep in the file.  It will have information you may need when you are ready to sale. 

Good luck.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2012
It depends on the lender and I have to say the buyer. Some buyers only care to know if it appraised and for how much, as soon as they know that, it's OK if they get it at closing. Since the buyer pays for it, I guess you can write your lender a message requesting the appraisal. It should not be a biggie
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2012
Profile picture for user9911186
Thanks for the inputs. I posted the same question to my lender. I will let you all know what they say.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2012

You should recieve it as soon as it is completed. You should put your request in writing and send it to your loan officer.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2012
I agree with Brian. It has been my experience that buyers (in NJ) receive a copy as soon as it is issued and delivered to the Bank.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2012
My buyers typically get the appraisal as soon as it's completed.  If the lender is having you pay for the appraisal at closing, he/she may have some motivation to not give it to until then????  Otherwise, I'd be curious to know why you don't have access to a document you are paying for. If you find out your lender's reasoning, let me know.  Thanks!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2012
Thanks for posting your question on Zillow.com!

I can only answer for PA, and the buyers get it as soon as the lender does.  You paid for it, you more than anybody deserves a copy.

Good luck!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 04 2012
 
Related Questions
When does the buyer get the appraisal report. my lender is saying that I will get it at closing. Wha
Profile picture for Cindy Quinton
Latest answer by Cindy Quinton
February 07 2013 | 29 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 3 Great Hills Rd, New Hope, PA Home For Sale
    3 Great Hills Rd, New Hope, PA 18938

     For Sale: $1,895,000

    • Beds: 6
    • Sqft: 6364
    • Baths: 7.0
    • Lot: 152460
  2. 99 Denow Rd, Lawrenceville, NJ Home For Sale
    99 Denow Rd, Lawrenceville, NJ 08648

     For Sale: $325,000

    • Beds: 4
    • Sqft: 2112
    • Baths: 2.5
    • Lot: 31363
  3. 26 Coburn Rd, Pennington, NJ Home For Sale
    26 Coburn Rd, Pennington, NJ 08534

     For Sale: $439,000

    • Beds: 4
    • Sqft: 1992
    • Baths: 3.0
    • Lot: 7840