Christine, typically the buyer of the subject property is paying for the appraisal(s) if mortgage financing is required to help the buyer close the transaction. Can a second appraisal be ordered for justification? Yes, sure, I see no reason why it cannot be done.
If the seller is ordering and paying for an appraisal, a bank/lender will consider accepting it as long as the licensed appraiser is on their approved list of certified appraisers of residential real estate property.
Over the past year, upper bracket, $1million +, consistently required two appraisals to confirm and justify value. This especially if the LTV (loan to value) with financing exceed 75% for this type of higher end transaction.... more