Who is the client? Can I have a copy of the appraisal report?
One of the most commonly asked inquiries to the appraiser is by the home owner requesting to obtain a copy of the appraisal report. A frequent misconception would be for the home owner to respond in a manner “since I am paying for the report, therefore I have the privilege to obtain a copy.” For all appraisal reports, the client and the applicant must be clearly identified. The client is generally the individual who will be relying on the report for the intended purpose. In some instances, the client may not pay for the report but will rely on the findings within the document. Some intended uses of the appraisal report include: for first mortgage lending purposes, distribution of matrimonial assets, for estate planning or to establish the current market value for the relocation process.
Related Questions
- Does the requirement that the lender provide a copy of the appraisal report three days before closing begin when the appraisal report is sent by the lender or upon receipt by the borrower?
- Is there a way to e-mail a client a copy of his Hippo generated Inspection Report and Summary directly from the modem of the Sony Vaio (or other computer containing the Hippo software)?
- If the appraisal is not completed three days before closing, is it still necessary to obtain a waiver from the borrower for a copy of the appraisal report?
