The appraisal fee being paid is not conditioned on any agreement or understanding that the appraiser will report or guarantee a predetermined specific value, a predetermined minimum value, a range or direction in value, the value that favors the cause of any party, or the attachment of a specific result or occurrence of a specific subsequent event, such as approval of a pending mortgage loan application. or personal situation.
The appraisal fee is compensation for the appraiser to research and develop an unbiased opinion of the market value of the property in question, and provide a written report documenting the analysis. Once the appraisal process has begun, the appraisal fee is not refundable.
The manner of payment does not affect ownership rights of the appraisal report. Federal and state regulations dictate the completed appraisal report is the property of, and will only be delivered to, the individual, organization, or agent for the organization that directly engaged the appraiser. Borrowers or other parties that pay for the appraisal, and that may be legally entitled to copies of the appraisal report, must obtain them from that Lender or that source, and not the appraiser.
We appreciate the opportunity to serve your Appraisal needs.
All Appraisal Fees, except Appraisals being used for mortgage purposes are due at time of inspection.