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#2203992 - 01/25/19 03:30 PM Appraisal re-addressed to bank
complofcr Offline
100 Club
Joined: Apr 2010
Posts: 180
SE USA
We have a borrower purchasing a home and the loan will be over $250,000. The seller has an appraisal addressed to his bank that's about 6 months old. We are doing a short term bridge loan on the purchase. If the appraiser will re-address the appraisal to us can we use that along with an internal evaluation for this loan? We are trying to avoid our customer paying for an appraisal now and again when he does his permanent financing.

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#2203996 - 01/25/19 03:49 PM Re: Appraisal re-addressed to bank complofcr
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,617
Galveston, TX
The appraisal cannot be re-addressed by the appraiser - that violates USPAP rules. You can get an assignment from the other bank with certification that they actually ordered it, but you would also have to get the copy from them and not the seller to make sure it was not altered.
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#2203998 - 01/25/19 03:57 PM Re: Appraisal re-addressed to bank complofcr
complofcr Offline
100 Club
Joined: Apr 2010
Posts: 180
SE USA
Thank you rlcarey!

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