So with all that said no one can stop you from attending an appraisal if you are part of the transaction. Good luck.
Full Time Associate Broker
H.P Greenfield Real Estate
My feeling is it's YOUR money that's paying for the service and also the property so you should be involved. Understand what your paying for and it's also a chance to possibly learn a few things along the way.
In the past, there were too many assumptions being made, and course realtors won't prefer the buyers to be on site, it's another risk they catch something that may potentially halt the deal, which means they lose their commission.
So my opinion, stay involved, too many people allowed for too many assumptions which led to this mortgage debacle we're going through. Good Luck!
In general, no, you should not be present during the appraisal. It's a waste of your time. The appraiser will not have a conversation with you nor accept any comments or questions from you. Since you have no hope of engaging the appraiser in anyway, and since the inspection is over before you can snap your fingers, it's truly not worth your time or effort to attend the appraisal inspection.
I would suggest you only be by the inspection because that is the person you are hiring. Once the inspection - engineer is done you know what the pros and cons are. The appraisal is just the banks reassurance like the engineer is yours.
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
From a legal standpoint the seller does not have to allow you to be there, nor do you have to be present. I have been a real estate agent for 18 years and after doing hundreds upon hundreds of deals I have only had a buyer present during an appraisal one time that I recall so it is extremely rare. Most buyers do not even ask and/or may be completely unaware of when the appraisal is actually being done as the appraiser usually calls up the listing agent direct to set up the appointment.
If the real estate agent told you that she is the only one who can be there, that may be due to specific instructions from the seller and/or seller's attorney. After you go to contract, the only time a seller is legally obligated to allow as the buyer back into the house would be for the final "walk through" which typically would take place within 48 hours before the closing once it is set up. Any other time the seller does not have to let you in unless your attorney specifically added verbaige into the contract allowing you to do so, which also is rare (and if it wasn't discussed with your attorney in advance will not be in the contract).
If you still feel a need to be there I think you should speak to your attorney and express your desire to be present for the appraisal and he or she will contact the buyers attorney and try to set that up for you. Your attorney may very well tell you that it is not necessary. My recommendation would be to just not worry about it and let them do it without you. Just my opinion. If I can be of further assistance please let me know. Good luck!
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783
All the best
Dave & Lisa
It is typical for the sellers, seller's agent, or buyer's agent to be present when the appraiser is touring the property. It is okay for you not to be present as the appraiser is just taking notes about the property and has not completed his evaluation on the home as of yet so he has nothing to say about the value at this time. The sellers or agents are there only to allow him entry.
Your lender will receive the appraiser's report once it is completed and tell you what the appraised value is.
Hope that helps clarify.
Prudential Connecticut Realty