Quote:
Originally Posted by keithwand
AND.. Realtors unless they are also licensed Real Estate Appraisers can only give you a Market Comparison or Analysis.
When picking 3 comps for an appraisal; other appraisers could use 3 totally different comps. Depends on the individual appraiser.
The best appraisal is when the appraiser doesn't know the value the lender is looking for.
BTW; an Appraiser only gets paid if the loan/ house closes.
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I can't speak for Practices everywhere but I have been in the mortgage business and my daughter is currently in the business and the appraiser ALWAYS Gets paid. That is why lenders ask for credit report fees and appraisal fees upfront.