can I get a refund on my home appraisal if I was ultimately denied the loan? by JCarte_214_465 from Buffalo, New York. Aug 28th 2012
Nope, non-refundable purchase.
This should have been explained to you by your loan officer.. Appraisals are not employees of the bank.. They are 3 party vendors who perform a service for compensation. They collect their fee upfront for this very reason. If the lender knew that your loan wasn't going to go through, he should have never ordered the appraisal.. But ultimately their fee is not refundable since it was never contingent upon the loan going through.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Non-refundable in most cases of purchase.
If the appraisal was completed and you received a copy then work has been performed the appraisal company completed the work order.I doubt your appraisal fee will be refunded. Check you disclosures! Sometimes the bank will give you a certificate or voucher for a discount on your next transaction. Sorry! John Schlobohm Mortgage Planning Specialist (914) 433-4646
No. Sorry.
Appraisals are in most cases non-refundable. A situation which should have been explained by your loan officer.
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