Do consumers need to be concerned with what is in the appraisal document as long as it satisfies the needs of their lending institution?
Only if consumers read a copy of their appraisal can they double-check its accuracy and question the result. Also, it makes a valuable record for future reference, containing useful and often-revealing information – including the legal and physical description of the property, square footage measurements, list of comparable properties in the neighborhood, neighborhood description and narrative of current real estate activity and/or market trends in the vicinity.
Related Questions
- Does a consumer need to be concerned with what is in the appraisal document as long as it satisfies the needs of their lending institution?
- Our lending institution provided a downpayment grant for a household that is now facing foreclosure. What is the members responsibility?
- Does the documentation that the required education has been met need to be a part of the document signed by an institution official?
