Thread Options
#2108331 - 11/22/16 06:21 PM Appraisal ordering
Dodge Offline
100 Club
Joined: Mar 2010
Posts: 239
Can you disclose the loan amount to the appraiser?

Return to Top
Lending Compliance
#2108358 - 11/22/16 07:32 PM Re: Appraisal ordering Dodge
Skittles Online
10K Club
Joined: Sep 2002
Posts: 13,963
We do not; however they can see a copy of the contract for purchase transactions.
My Opinions Only

Return to Top
#2108452 - 11/23/16 02:04 PM Re: Appraisal ordering Dodge
HRH Okie Banker Offline
Power Poster
Joined: Jan 2003
Posts: 3,070
There is no where on our valuation order form that would disclose that info to the appraiser. Ours would see purchase contracts and/or construction budget amount but never the actual loan amount.
Just working here until I get my letter from Hogwarts.

Return to Top
#2108456 - 11/23/16 02:12 PM Re: Appraisal ordering Dodge
#Just Jay Offline
10K Club
#Just Jay
Joined: Oct 2006
Posts: 14,390
I don't repeat gossip, so listen closely...

Return to Top
#2108511 - 11/23/16 04:11 PM Re: Appraisal ordering Dodge
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 79,368
Galveston, TX
The loan amount is in most contracts that I see - whether or not it is accurate. But banks don't directly tell appraisers that information as it has no impact on appraised value.
The opinions expressed here should not be construed to be those of my employer:

Return to Top

Moderator:  Andy_Z