What if one doesn't get Appraisal Report prior to Refinance?

Guest 0.10 Dollars($)

I am in the process of refinancing my mortgage for a property that I won in Michigan. But I'm in for the services of a lender who'd had his men do the appraisal. I thought, being the borrower I should be getting a copy of the appraisal . I haven't been refused but there has been no action taken on this part by the lender. Is there any agency where I can complain and make the lender send us proper documents in time so that later on I don't have to muddle with the law.

sara · Posted: Mon Nov 26, 2007 5:12 am Post subject: RE: appraisal report

Hi naomi,

Welcome to the forums.

I guess you are entitled to get a copy of your appraisal report. Why don't you call up the appraiser and directly get the report from them. I don't they'll deny. In case you don't get one, you might report it to the State Department of Banking and Finance. They may help you out.

Take Care

larry · Joined: 27 Jun 2007 Posts: 3059 429.39 Dollars($)

Hi Naomi,

I think Sara is right. You are entitled to get a copy of the appraisal. The broker pr the lender requires providing you a copy of the appraisal. You should ask them to give you the copy; otherwise you can file a complaint with the state financial institutions department.

Hope this will help you. Feel free to ask if you have further questions.

Thanks,
Larry

evolovik26 · Posted: Mon Nov 26, 2007 8:11 am Post subject:

Do not call the appraiser, they will not and cannot help you by law. Call the lender they are required to get you a copy.

livinginnky · Posted: Mon Nov 26, 2007 10:50 am Post subject:

Eugene is correct.

You must call the lender as the appraiser actually works for them. You have a right to see the appraisal but again, the appraisal typically belongs to the lender. Thats right even though they probably required you to pay for it up front.

mikeshapiro · Posted: Thu Jan 03, 2008 2:33 pm Post subject:

Eugene/Eric...

Thanks. Sorry I've been away for so long, it's been absolute madness lately around here.

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

Welcome back Mike,

naomi_fbee, as everyone said, call the lender and tell them a copy of the appraisel, shouldn't you know what you are purchasing. I would not sign the paperwork unitl I got it.

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