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What else can I help you with?
Are appraisers required to not tell the owner what the appraisal is?
A licensed appraiser may only discuss the value opinion with the client. If the owner is the client, then the appraiser can discuss the value opinion. If the client is really the lender in a refinance or purchase situation, even if the owner pays the appraisal fee, the appraiser may only discuss value with the lender-client. The rules are spelled out in complete detail the Uniform Standards of Professional Appraisal Practice (USPAP). RMK
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.
Do you need to get an appraisal for home mortgage refinancing?
Every lender sets the standards and requirements for its various mortgage instruments. Whether you need another appraisal depends on many factors, including when the most recent appraisal was done. Your best bet is to check with the lender for these requirements. The cost of an appraisal is likely built into the closing costs.
How many days are required ti give a customer their appraisal once they ask for it?
the appraisal belongs to the lender and it is not usually given to a buyer.
What happens to the land in a reverse mortgage contract?
In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.In a reverse mortgage arrangement the lender ends up with the property unless someone pays off the mortgage.
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.
Who pays for a real estate appraisal--buyer or srller?
In residential contracts in the US, the buyer pays for the appraisal which is required to obtain a mortgage. Some contracts may be negotiated that a portion of the closing costs are seller paid on behalf of the buyer which could include the appraisal in the final accounting.
How can I request a home appraisal to eliminate private mortgage insurance (PMI)?
To eliminate private mortgage insurance (PMI), you can request a home appraisal to show that the value of your home has increased enough to meet the lender's requirements for PMI removal. Contact your lender to request the appraisal and follow their specific guidelines for the process.
Which fee pays for a licensed professional to determine a value of a home?
Appraisal fee
Who is real estate title insurance paid to?
There are two general types of policies, or combinations: lender's insurance (which pays the lender to cover its loss in security interest) and owner's insurance (which pays the owner in case of defective title).
How do real estate appraisers get paid?
Generally, the property owner pays the appraiser. So if I want to refinance my home and the bank requires an appraisal, I'll pay for it through closing costs on the loan. If I am purchasing a property, I'll also have to pay for the appraisal. Note that many lenders have their own approved list of appraisers so be careful not to get one before selecting the lender. Everything is negotiable, almost. So you may negotiate with the buyer/seller as to who will pay for the appraisal.
How can I request an appraisal to remove PMI from my mortgage?
To request an appraisal to remove PMI from your mortgage, you should contact your lender and ask them to arrange for a professional appraisal of your home's current value. This appraisal will help determine if your home's value has increased enough to meet the requirements for PMI removal.
