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Copy of home appraisal - Will I ever get it?

Posted on: 24th Oct, 2009 01:38 am
Hello there…I hope someone could help me… Purchased my dream house around 1 and ½ years ago. At the closing, I didn't get the appraisal docs so I asked my lender to give me a copy of it. But he never cared to send it to me. I have been asking regularly for the home appraisal but they won't return my calls. Now, I need it urgently. Can anyone tell me HOW I would get a copy of the appraisal? Can I force the loan officer to give me the appraisal docs?
Hi Guest,

You must be having your loan documents. You'll find a page in the loan documents stating your rights about a copy of your appraisal. Also, you'll find the steps to obtain the document over there. As far as your loan officer is concerned, he may or may not have the appraisal documents. The documents are a part of your file and most lenders do not share copies of it with the loan officer.

However, you should remember that if you want to sell the property, then a 2 year old appraisal won't help you. In my opinion, it would be a better option to contact an appraiser for a property appraisal. This is help you know the present value of the property.

Take care.
Posted on: 24th Oct, 2009 02:18 am
i surmise that the urgency of the need has to do with more than selling the home now, and i agree that a 2 year old appraisal is outdated, but you certainly ought to be able to obtain a copy. your loan officer is not likely to be able to obtain it, but it has to exist somewhere on someone's desktop - maybe even the appraiser could round up a copy for the loan officer who could then get it to you. yes, you deserve it...keep asking...keep demanding
Posted on: 24th Oct, 2009 11:13 am
Really surprised that you did nto get a copy of the apprisal

Yes keep asking for it, some one will be able to find it and sedn it to you
Posted on: 24th Oct, 2009 11:29 am
the lender is required to provide you with a copy. if they haven't, report them - that's unacceptable behavior and they should be repriminded.

as a loan officer, i have full access to all my clients paperwork and appraisals, and i provide the appraisal to them after they've paid for it, usually via email. most homeowners prefer to pay for the appraisal when the proceeds from their refinance are disbursed, and i provide it to them at that time, and then i destroy it and most of their other paperwork. however, mortgage bankers (at least in california) must keep the homeowners complete files in storage for 5 years, and most lenders are storing them in digitally and then destroying the physical papers. each state has a different period of time for storing funded loans, but they do have access to your loan if required. it's just a pain to retrieve it - so you're going to have to file a complaint and force them to get it for you if they're ignoring you.

you can also ask the appraiser for a copy of it. when the appraiser visited your home and did the appraisal, did you ask her for her business card? i always ask my homeowners to do that, just in case they need to do what you're doing now - trying to obtain an old appraisal.
Posted on: 24th Oct, 2009 02:39 pm
"You can also ask the Appraiser for a copy of it. When the Appraiser visited your home and did the Appraisal, did you ask her for her business card? I always ask my homeowners to do that, just in case they need to do what you're doing now - trying to obtain an old Appraisal."
__________________________________________________________

Dear Homeowner/Borrower

The Lender is required to supply you with a copy of the Appraisal. It is law. The Appraiser cannot, is not, at liberty, or authorized, due to client confidentiality issues often outlined in SOW (Scope of Work) and engagement letters to release the appraisal to anyone other than their clients. Although borrowers are the parties paying/being charged for the Appraisal, in most origination scenarios cases, they are NOT the Appraisers Client.

Best regards to all,

Carol Rockman,

[External linking deleted as per forum rules. Thanks.]
Posted on: 25th Oct, 2009 09:13 am
thanks carol - a very informative and cogent post. it's true that the client is the lender and an appraiser generally has no business in supply a report to the borrower. that's not to say it's never done; sometimes simply from the kindness of the appraiser.

it's clear that the lender must provide a copy of the report to the borrower. that's why it is imperative to keep pressing for that copy. there's no excuse for not providing a copy once you've paid for the report.

i guess i've been a bit more liberal than raymond - i don't wait for the fee to be paid to give a copy to a borrower. of course, with the new hvcc rules, we have to get the money up-front. without it, we don't even have the opportunity to order the appraisal. but that also guarantees (for those of us who care about our customers - not everyone does, by the way) that we'll give the copy out once the report has been received.
Posted on: 25th Oct, 2009 07:40 pm
Carol is correct in that appraisers cannot provide it directly since it would violate a certain code of ethics regarding client confidentiality. On the other hand, I have had several homeowners call me for this very same reason and usually just a simple call to the lender to gain permission to release the appraisal is all that's needed. If you have the number for the appraiser, I would try them and see if they could at least help you with facilitate your request.


Good Luck!
Posted on: 27th Oct, 2009 08:49 am
good idea, ben.
Posted on: 27th Oct, 2009 09:01 am
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