We never recieved a appariasers report on a house we had in escrow. We paid $475.00 Are entitled to a copy?

Asked by G, Napa, CA Fri Sep 5, 2008

Right. .had in escrow ..both the mortgage officer and the appraiser never returned our calls.. the close came and went and we lost the house to investors with cash. It's frustrating. we did not have the information to switch to a conventional loan in time. to get the house back under escrow. We feel like er were treated unprofessionally. Is this typical???

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Ute Ferdig’s answer
Ute Ferdig, Agent, Newcastle, CA
Fri Sep 5, 2008
Hello G. If you actually paid for the appraisal, you should have received a copy of the appraisal. The only question is from whom you should have received the copy. If the loan agent ordered the appraisal and paid for it and then you paid the loan agent, then you should have received the copy from the loan agent. The appraiser would not be able to provide you with a copy unless the loan agent agrees to it because technically speaking you are not the appraiser's client. On the other hand, if you ordered the appraisal yourself and the appraiser received payment from you or the loan agent, you should have received a copy of the appraisal from the appraiser because the person who orders the appraisal is the appraiser's client. Most appraisals are not ordered by the buyer directly.

Whether or not having a copy of the appraisal would have helped you save the transaction is another question. Many times, an appraisal is specific to the lender that was going to approve the loan and a new lender will not necessarily accept a prior appraisal, but sometimes they will if the appraiser rewrites it to make it specific for the new lender.

It is unfortunate that neither the loan agent nor the appraiser returned your calls. No matter whether the transaction could have been saved, I think you deserved at least a return call and an explanation. Sorry this happened to you.
1 vote
Lauren Nicho…, Agent, Napa, CA
Wed Feb 11, 2015
I am sorry to hear that you had this experience. In my professional opinion, I believe your agent should have handled the timeline and organization of your escrow.
This is the most bizarre thing I have ever heard, and yes, if you were my client, you would have been reimbursed for the the money you lost.
Hope you found a place to call home here in Napa Valley! If not, feel free to give me a call!
0 votes
Pacita Dimac…, Agent, Oakland, CA
Fri Sep 5, 2008
Absolutely, you have the right to have a copy of the appraisal. If your lender arranged for the appraisal, then you should have the lender get you a copy. Bottom line, regardless of who ordered the appraisal --- you or your lender --- if you paid for it, that report belongs to you.
0 votes
Viktor Taush…, Agent, Dallas, TX
Fri Sep 5, 2008
You should have a copy, it is short and clear. Just ask them to give it to you, if not they need to return your money.
0 votes
Dallas Texas, Agent, Dallas, TN
Fri Sep 5, 2008
I agree with Ute, I confused on how you could lose an opportunity in purchasing a home, for fact the you were in escrow and option would allow you to switch conventional loan if need be. Cash of mortgage are exactly the same seller net same amount of money. Without knowing all the details could be more to story. Speak with your buyers agent.
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