Posted on: 22nd Oct, 2013 02:21 am
Hello there... Is it quite normal to receive a request for 2 appraisals on my property before selling?
Hi KVP,
If you are taking out a jumbo loan on a property, then the lender may ask for 2 appraisals for it.
Take care
If you are taking out a jumbo loan on a property, then the lender may ask for 2 appraisals for it.
Take care
It does not happen a lot, but, there are some mortgage products that require two appraisals for various reasons. One of the most common reasons as noted above is if the mortgage is a jumbo mortgage.
It can also happen if the Buyer switched Lenders and the new lender will not accept the appraisal that was done for the previous lender.
It can also happen if the Buyer switched Lenders and the new lender will not accept the appraisal that was done for the previous lender.
