Who pays for the appraisal and when?
The broker or the borrower can pay for the appraisal provided that the payment passes directly to the AMC, and neither the broker, nor the borrower provides payment directly to the appraiser. Most appraisal management companies will accept a credit card, debit card, or electronic check transfer. If payment is due to AHEC, a check will be required before the appraisal is ordered. If the broker paid for appraisal upfront with the intention of collecting the cost of the appraisal from the borrower at closing, AHEC will require the broker to provide a copy of the broker paid invoice from the AMC.
