Home Buying in 91604>Question Details

Me, Home Buyer in San Francisco, CA

who is in charge of selecting the appraiser person?

Asked by Me, San Francisco, CA Wed Mar 27, 2013

first time buyer. i was told that i have to pay for the appraisal of a home. if i have to pay for it, how come i am not being told to start looking for one? one that is affordable...yet knows what he/she is doing based on experience etc...

Help the community by answering this question:

Answers

8
Your lender will request the appraisal. They have a list they pull from and order it for you.
0 votes Thank Flag Link Sat Aug 30, 2014
The Lender. It's also a good idea to pull comps before so you have a pretty good idea if the house your about to buy will appraise.
0 votes Thank Flag Link Fri Aug 29, 2014
The lender orders the appraisal, and selects the company. Yes, you do pay for it, but you don't have to worry about hiring the appraiser. Because the lender wants to ensure the property is valued at what they are lending on it, it is a requirement for your loan approval.

Nicole Fedorchek, Realtor
Tarbell Realtors
714-914-5097
realtornicolef@gmail.com
http://www.nicolefedorchek.com
0 votes Thank Flag Link Fri Jul 25, 2014
Typically the bank contacts a third party or appraisal management company.
0 votes Thank Flag Link Fri Jul 25, 2014
The appraiser is selected by the lender and is pre approved by them for compliance purposes. You have to pay for it upfront because the fee goes to them and before the lender can order it it has to be paid for. The reason why you're not able to select your own appraiser is to make sure that the value is objective and without any bias to the buyer/seller. Hope this helps :)
0 votes Thank Flag Link Thu Jul 18, 2013
Hi "me"

You do have to pay for the appraisal because it's necessary for your loan. You do not choose the appraiser, the lender that is giving you the loan will take care assigning an appraiser to get it done.

Good luck,

Sara Mehrpouyan
Rodeo Realty
Direct 818-903-2040
Dre License #01712757

Sign up to receive New Property Listings for Sale by Email Here: http://www.newlosangeleshomesearch.com/
0 votes Thank Flag Link Thu Mar 28, 2013
The appraisal is ordered by the lender who uses an appraisal management company. The buyer has no say in the appraiser or cost. That is how it is.
0 votes Thank Flag Link Wed Mar 27, 2013
The lender has to order it through a management company and then they hire the appraiser to inspect the property. Once the appraisal is done it goes back to the management company for review and then a copy is given to the lender and the buyer that paid for it.
0 votes Thank Flag Link Wed Mar 27, 2013
thank you for the info.
Flag Wed Mar 27, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer