Frequently asked questions:
■ What is a 'Comp Check'?
■ Why is payment required prior to the completion of the appraisal report?
■ I need an appraisal, but I only want to pay for it if it is going to enable a loan for my
customer / myself. If you tell me that you can make that value, I will order the
appraisal. Can you do this?
■ How is the value of the appraisal report determined?
■ What should I do to prepare for an appraisal inspection?
■ May I have a copy of the report?
■ A competitor is advertising a lower appraisal fee. Why should I order from you
instead of them?
of the report?
The short answer is yes, but if you are the borrower and the report is for a mortgage finance transaction, you will likely have to contact your lending company for a copy of the report. This is a tricky question due to privacy laws and the uniform standards of professional appraisal practice which prohibit the distribution of the appraisal by the appraiser to anyone other than the named client on the appraisal report. This can become a contentious point with borrowers as they often pay for the report directly to the appraiser. In these cases, the appraiser is accepting the payment directly from the borrower to expedite the process only, and normal channels through the lending company must be pursued by the borrower for them to obtain a copy of the report. Rest assured, the lending company is obligated to provide you a copy of the appraisal report
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