Appraisal question from newbie - Posted by Michelle L.


#1

Posted by Eduardo (OR) on November 17, 1998 at 19:00:02:

Michelle–

Two things: 1. Sometimes it doesn’t matter who pays (buyer or seller) for the appraisal, inspection, repairs, etc., but on whose behalf the work is being done. Therefore, 2. Always make sure, in writing, that copy of appraisal, inspection report (house, well, septic, roof, understructure, etc.) will be delivered to you. These things are often negotiable at the beginning (when you first talk about them), but after signing papers they are cast in concrete. Even on a refinance (no sale involved) I’ve had lenders tell me they won’t share their appraisal with me. I tell them, in the beginning, no copies all paperwork to me, including appraisal, no deal–I’ll go to their competitor. They’ll provide it then. --Eduardo


#2

Appraisal question from newbie - Posted by Michelle L.

Posted by Michelle L. on November 17, 1998 at 14:01:03:

Seeking finance through a mortgage broker for private investor mortgage and needed an appraisal done on the
property, which we paid for. Called to check on the status
of things and was told that the seller would get the report
before the broker would. Is this standard proceedure?
Since we paid for it, why is the seller getting the report?