IF THE LENDER REQUIRES A 2ND APPRAISAL, WHO SHOULD PAY FOR IT?

The buyer.  The cost is associated with his/her mortgage.  Why should the seller pay for it?   Or the mortgage rep?   These are some of the hazards that should be gone over with the buyer client prior to writing that offer.  Not everything is cookie-cutter, in fact, most transactions aren't. 

I have been faced with situations when there was a need for a second appraisal- it was always the buyer who paid for it.

The buyer.  My brother-in-law is a lender and in some suburbs of Chicago, the banks are requesting 2 appraisals if they feel the property is in an area of "declining value".  It seems this is happening more frequent. 

First of all....if the buyer picked the lender or that specific program than why wouldn't the buyer pay? If they were recommended by the LO or MB....did they disclose the possible chance of an appraisal review? If your asking if the seller should pay for it.....I say absolutely not plus the seller came down and renegotiated to make the deal go through. I don't think the seller should have any reason to think to pay for it. I have seen sellers pay partially for it on some deals but rarely. If the appraisal was done by someone who has experience than why would they need to reappraise at the end? They should know it once...not twice and yours was such a small spread too.

Its the buyers loan so the biuyer gets socked. Thats who should pay for it. Who does pay for it is a matter of negotiation. But since you already had 6k in costs from the seller..... The buyers lender could have stepped up to