Castle Appraisal Services Plus
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Castle Appraisal Services Plus
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Who owns the appraisal reports?
This question takes us back to "Who is my CLIENT"? If you, the homeowner, order the appraisal, YOU become my CLIENT. The entire report belongs to you. However, if the lender to ordered the appraisal, the LENDER becomes my CLIENT. There is one thing in your favor. A law passed sometime in the mid 1980's states that all lenders HAVE TO provide you with a copy of the report. Some lenders will make you pay for the appraisal and processing, others will provide you with a copy automatically. The appraiser, however, CAN NOT GIVE YOU A COPY, if the lender is our client even if you paid for it. This could become another question you need to ask when applying for a mortgage loan through a lender. (Will I be provided a copy of the appraisal report?)
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