Zillow Advice: Buying Process - second appraisal http://www.zillow.com/advice-thread/second-appraisal/516368/ Zillow Advice | Zillow Real Estate Second appraisals are now ... http://www.zillow.com/advice-thread/second-appraisal/516368/ Second appraisals are now required on all FHA Flip transaction (this is new regulation within the last six months) and many, many Jumbo loans require a second appraisal as well.<br/><br/>Desk reviews and/or Field reviews are sometimes required if the underwriter feels there is insufficient data/clarification in the initial appraisal report.<br/><br/>All my best,<br/><br/>Deborah<br/>NMLS #279125<br/>WJ Bradley<br/><br/>"We Listen.&nbsp; We Care. We Deliver." Wed, 23 Oct 2013 21:38:00 GMT http://www.zillow.com/advice-thread/second-appraisal/516368/ 2013-10-23T21:38:00Z I had underwriting question ... http://www.zillow.com/advice-thread/second-appraisal/516368/ I had underwriting question an appraisal where it appeared to be a flip but it was not. they did not require a second one on that deal.<br/><br/>&nbsp;I imagine FHA is trying to protect themselves.&nbsp; I can see why they would do it on a flip. Wed, 23 Oct 2013 15:05:00 GMT http://www.zillow.com/advice-thread/second-appraisal/516368/ 2013-10-23T15:05:00Z If you are getting an FHA ... http://www.zillow.com/advice-thread/second-appraisal/516368/ If you are getting an FHA loan, it is because the home has been "flipped". When a home is bought and sold with in a 6 month time frame, the FHA will require 2 appraisals to be done.<br/><br/>If you are obtaining a jumbo loan, some lenders require two appraisals to be done on loans over $1 million. Wed, 23 Oct 2013 15:01:00 GMT http://www.zillow.com/advice-thread/second-appraisal/516368/ 2013-10-23T15:01:00Z Well I believe its due to ... http://www.zillow.com/advice-thread/second-appraisal/516368/ Well I believe its due to the fact that its a flip home. My lender requested it and its paying for it. Wed, 23 Oct 2013 13:53:00 GMT http://www.zillow.com/advice-thread/second-appraisal/516368/ 2013-10-23T13:53:00Z Unusual for a lender to ask ... http://www.zillow.com/advice-thread/second-appraisal/516368/ Unusual for a lender to ask for a second appraisal.&nbsp; Why is it being done? Who is paying for it?<br/><br/>Underwriting will sometimes flag an appraisal and ask for clarification.&nbsp; Second appraisals are almost unheard of since the banking regulations changed.<br/><br/>Yes it can be different from the first appraisal. Wed, 23 Oct 2013 13:37:00 GMT http://www.zillow.com/advice-thread/second-appraisal/516368/ 2013-10-23T13:37:00Z