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Who pays for a bank orderd appraisal. If buyer is responsible is it a up front cost

  • April 30 2009 - Lakewood
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Answers (7)

Typically the Buyer pays this cost. The Lender may ask you for a charge card in the early stages once you open escrow to pay for the appraisal. It is normally paid upfront.
  • October 17 2010
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BUYER USUALLY PAYS AND IT IS WORKED IN WITH YOUR LOAN. BUT YOU CAN SOME TIMES SPLIT IT WITH THE SELLER ,DEPENDS ON THE SELLERS SITUATION.EVERY THING IS NEGOTIABLE!!!
  • October 08 2009
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Whoever the contract says pays for it, pays for it.

I'm shocked so many agents are just quipping buyer pays... NOPE. that is negotiated like everything else.
  • September 02 2009
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Profile picture for Van Wig
Buyer pays for appraisel. It is an upfront cost.
  • September 02 2009
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Profile picture for Debra Lamanna
The buyer pays for the appraisal, it can be negociated in the contract for the seller to pay non- recurring closing cost if your loan program allows it. You would pay for it up front when your transaction closes you would get your appraisal fee back.
  • April 30 2009
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Buyer's pay for the appraisal on the property that they are looking to have financed...it is possible in some instances to have the monies spent on your appraisal reimbursed at c.o.e. when written in the offer and all parties agree.
  • April 30 2009
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Assuming that you are purchasing a home, and assuming that you have applied for a mortgage, then, depending on the terms for the mortgage, most likel;y you as the buyer will be responsible for the cost of the mortgage. Most lenders will not order the appraisal unless you pay for it upfront. Effective May 1st, you can not pay the appraiser directly.
  • April 30 2009
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