Home Buying in Wilmington>Question Details

h_Ayala, Other/Just Looking in Wilmington, DE

If I never applied for a loan, am I still responsible for the appraiser?

Asked by h_Ayala, Wilmington, DE Thu Oct 11, 2012

I was only pre-qualified for a loan when I signed a contract for a house, lost my $1,000 down payment after cancelling the contract due to a financial issue, yet now my realtor is charging me an extra $875.00 for appraisal cost. Will I still be responsible for the appraisal cost if I never signed a loan contract with a broker?

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Very happy to hear that things got worked out.

Take care and best of luck!
0 votes Thank Flag Link Tue Feb 12, 2013
I appreciate all the help and advise everyone has given me, but in the end of the day I told the realtor to give me the paper work with the proof that I owed her the appraisal cost and I never heard from her again. I have heard of the realtor I was working with and many people comment that she has ripping off a lot of people . But thank you so much .
0 votes Thank Flag Link Fri Feb 8, 2013
Does Allied Mortgage Group work within the office of the realtor? Sometimes mortgage companies have branches within a real estate company and those realtors will pass mortgage referals on to them. That is the only reason I can see a realtor asking for appraisal funds as a courtesy to the lender. The lender is the only one that will order an appraisal. Did you order an independent appraisal yourself and ask to have it paid at closing? Also most appraisals I see come in around $300-$500 but I have never seen one for $875. Call or email me with any questions regarding this or any other real estate matter.
0 votes Thank Flag Link Fri Feb 8, 2013
It is best to consult a lawyer!

Please let us know how it turns out. I would be interested in finding out.
0 votes Thank Flag Link Wed Dec 19, 2012
I have talked to Wendy, the Vice President of Allied Mortgage Group which told me she had no record of me on their system. I also spoke to an attorney and was told I shall not pay other than the down payment that I already lost because we never applied for a loan nor a mortgage.
0 votes Thank Flag Link Fri Oct 12, 2012
And why are you paying $875 to mortgage company for an attorney? Usually you pay the attorney directly. Please call me need to discuss as it's hard to get to the right answer when all I have is more questions.
0 votes Thank Flag Link Fri Oct 12, 2012
If you never made application to lender for financing and you never went to closing I don't see why they are asking you to pay $875. You need to call the agent's broker (basically the person who manages their office) and have the broker get answers for you as to why you are paying for services you didn't receive. DId you talk with anyone at Allied Mortgage Group?
0 votes Thank Flag Link Fri Oct 12, 2012
Lets see, if you don't pay it, (which you are probably contractually obligated to do), then the Bank will have to:
Whom do you think win; you or the Bank?
0 votes Thank Flag Link Fri Oct 12, 2012
So he're the deal, we forward to making an inspection paid for inspection, nothing was wrong other than electric wiring, chance of termites, yet we never signed any papers to get any of those issues fixed, and like I said before , the realtor only exchanged information with broker, we never met with anyone to make an application for a loan. We are supposed to make a check for Allied Mortgage Group for $875.00 for an appraiser and attorney, yet we never got close to the closing date.
0 votes Thank Flag Link Fri Oct 12, 2012
Yes, You need to get your questions answered. The appraisal is on the high side.
Did you back out because something came up negatively on the home inspection?
0 votes Thank Flag Link Fri Oct 12, 2012
First of all, the Realtor wouldn't be charging you for the appraisal - the lender would. Typically full mortgage application is made within 5 days or so of having an offer accepted, so it may be possible that you did start the mortgage process with your loan officer. The appraisal is not usually ordered until you are a few weeks into the escrow period. $875 seems very high for an appraisal charge alone. I would question the real estate broker about what exactly you are being charged for.
0 votes Thank Flag Link Thu Oct 11, 2012
You state you signed a contract for purchase. How far into the process did it go? First of all a realtor has nothing to do with the appraisal so a realtor cannot demand payment for something they did not order. The lender is the one who usually aks for payment for an appraisal.

After you signed the contract did you sit down with the lender and go through the process to start getting a commitment from lender for purchase? Did you conduct a home inspection? Usually after the home inspection is done an appraisal is ordered. Did the lender state an appraisal was done? You really need to go back to the lender to get some of your questions answered.

Feel free to call me if I can help further - (302) 540-5373.

0 votes Thank Flag Link Thu Oct 11, 2012
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