There is this appraisal area that creates confusion and sometimes hard feelings for your home owner. Please know that I try to keep the peace as much as possible. I do my best to explain and keep the home owner happy. I am speaking about just who I can talk to about the value of the home I am appraising and why I can't just send a copy of the appraisal.
Depending on the scope of work for each assignment I accept I am limited in who I can discuss the value with. IF you are the mortgage broker, banker or agent who has hired me then I am not at liberty to discuss the value with your client or provide a copy of the appraisal unless I have a release from you!
Most homeowners are asked to hand over a check or money order for the appraisal fee before I leave their property.....in their eyes this means they are entitled to ask about value, ask for a copy of the appraisal. Heck, I would feel the same way if I were in their shoes. Heck, I feel the same way and I am not in their shoes. Does this mean I tell them? NO it does not. You are my client, not them...they are your client.
Due to laws I must follow I can not. What I tell them is this.......Mr. or Mrs. Homeowner, I will be in your neighborhood for a while longer looking at sales comparable to yours. After that I will be typing your report and doing the research on values in your area. You report will be sent to your agent, (insert agent's name), and he or she will be calling you in a few days, I am sure. If you need any further paper work for your agent now is the time to finish gathering it as I will have the report done in a day or two. When your agent calls is the best time to ask for a copy of the appraisal report that way they can have it for you at closing or send it by email, however you two agree. By law, your agent must give you a copy as long as you have paid for the appraisal report. The same law says I cannot give you a copy unless your agent says I may.
I usually use those words as I am collecting their check. I try to head them off at the pass, so to speak. I would rather explain it first than have to first say "no". It is so much easier to explain it first than try to make them happy after I've had to deny them something they really feel I owe them.
I wish I had a dollar (inflation, you know) for everytime I've heard: "But, but, I paid you for the appraisal you have to give me a copy!".
If you are the type who tries to educate your client in the processes involved with the loan which includes the appraisal then hearing that they will receive a copy of the appraisal at closing or ??? then possibly you could explain to them first and my comments will be in support of what you have told them.
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