I Apppraise

FAQ 6


 

6. I recently refinanced with a bank and had hard time getting a copy of the appraisal report. What can I do to avoid this situation in the future?

One of the most misunderstood concepts in our industry is the grantor / receiver relationship. This is the person, bank, lender or homeowner who ordered the report from us (which can prove from our written copy of the appraisal request) and thus is the one who owns the report. It doesn’t matter that the appraisal was a cash on delivery (C.O.D.) order from the homeowner at time of inspection. If the order form has the name of the bank or lender on it, that is the one person (party) we will release information to, unless they grant written permission to us to release the completed appraisal report or any related information to someone else.

If a non-bank client (such as a homeowner) calls us directly and orders the report themselves, then the grantor / receiver relationship is established and the homeowner will have full control of the report.

 

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