pay appraiser fees before closing

I just got a call from an appraiser that the bank that handles our mortgage ordered the appraisal, ok great. But the appraisal company asked for their fee up front. Isnt that normally due at closing?

I have a call into my lawyer, but I was wondering that everyones experience was.

Thanks!

as an appraiser, I can tell you we usually take our fee up front.

But sometimes (at the discretion of the client) we include our fee in the closing costs and get paid after closing.

However with clients that we don't have established relationships with, we ALWAYS require the fee upfront (to avoid getting screwed if the deal doesn't close).

I paid up front.

But check this one out. The appraiser that did my 2br underappraised it thanks to some crap comps they had from like last year.

I called up the appraiser and bitched and moaned... but they wouldn't give me any information because I wasn't the one that actually ordered the appraisal. My mortgage broker ordered it. But i paid for it... AND made the check out to the appraier and not the broker. They still wouldn't deal with me.

Man I gave them holy hell for that one. Their second appraisal came out good.

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Posted by DjPiLL

I called up the appraiser and bitched and moaned... but they wouldn't give me any information because I wasn't the one that actually ordered the appraisal. My mortgage broker ordered it. But i paid for it... AND made the check out to the appraier and not the broker. They still wouldn't deal with me.

Man I gave them holy hell for that one. Their second appraisal came out good.

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yup, it happens. Appraisers are in an awkward position where they can't disclose information to the homeowner even though they paid for the appraisal. By law, the homeowner is NOT the client if someone else 'ordered' the appraisal, and we're bound by some strange regulations around that...

I totally feel your pain, and we try to work with the homeowners the best we can. Often if a deal falls through with one mortgage broker, we work with the homeowner directly to help them however we can.

Glad it worked out for you in the end!

OK so from what you are all saying, it sometimes is the norm and I shouldnt be too alarmed by it?

I am still waiting on a return call from my lawyer

How long does it take for the appraisal report? 'Our' house was appraised yesterday; I'm wondering when it's time to hound the mortgage people, lawyer and agent for updates.

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Posted by BlazeSyth

How long does it take for the appraisal report? 'Our' house was appraised yesterday; I'm wondering when it's time to hound the mortgage people, lawyer and agent for updates.

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depends on the appraiser. We shoot for a 1-2 day turnaround, but I've heard stories of appraisals taking up tp 2 weeks (which is ridiculous). I think a few days is reasonable - if you don't hear anything by Monday, I'd give them a call.

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Posted by D&C

OK so from what you are all saying, it sometimes is the norm and I shouldnt be too alarmed by it?

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you absolutely should NOT be alarmed by it.