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Yes. Most lenders will require that the borrower pay for the appraisal at the time of loan application. For certain residential mortgage transactions, the lender must wait until the applicant has expressed an intent to proceed with the loan before collecting the appraisal fee.
Of course, the reason for collecting the appraisal fee early in the loan process is that it is possible the loan will not be made. The applicants may withdraw their application; the loan may be denied for some reason, or the property may not appraise for enough to support the loan request. The lender must still pay the appraiser whether the loan is made or not.
However, I have heard of lenders that wait until the loan is made (funded) and collecting the appraisal fee at that time.
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How do you get a loan if home appraisal is higher than value of home?
Apply for less money than the appraisel.
What is the effective appraisal date?
The effective appraisal date is the date that the appraisal was completed. The appraisal will tell you how much your home is worth.
How can home appraisals be improved?
I am having a real estate appraisal soon. How can I improve my home appraisal?
Where do you get a home appraisal?
Find an appraisal firm near where you live and pay them to perform a home appraisal. Google should be able to help you find one.
Where can one go to learn how to use a home appraisal?
I have recently bought a home appraisal. Where do I go to learn how to use it?
How do you find out the appraisal amount on a home?
If you paid for the appraisal, then you are entitled to a copy of it. Contact the appraiser or the person who ordered the appraisal and request your copy. If you weren't the person who paid for the appraisal, you will have to order and pay for a new or updated appraisal.
What is a sentence using the word appraisal?
My home's value was higher now, according to the appraisal. His appraisal of the enemy's forces made the success of the campaign almost certain.
can i refinance @ the amount my home was appraised before i began constrution. it is currently under construction and i have put 40 thousand into the home. does it need to be complete before i apply for refinancing?
Probably not, but possibly. Check with the lender that ordered the appraisal.
What different between appraisees and appraiser?
An appraisee is the home buyer or home owner having the appraisal done. The appraiser is the person doing the actual appraisal to determine the value of the property.
What is the cost of a home appraisal for a condominium in California?
There is no standard cost for an appraisal. This work is generally based on the scope of the work, which varies according to who commissions the appraisal, the type of appraisal and the size of the property being appraised. A local realtor can give you a better idea of what is common in your geography for the kind of appraisal you want.
Where can someone get more information on a property appraisal?
Information on property appraisal can be found from many online sources. Some examples that deal with property appraisal include Realtor, Muni, and Home Guides.
Average cost for home Appraisal fee?
IN THE STATE OF FLORIDA ABOUT $350.00, BUT THE PRICE CAN CHANGE DUE TO HOW HARD THE APPRAISAL CAN BE AND THE DIFFERENT TYPES OF APPRAISALS.
