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appraisal refund

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 Reply


Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions

Nope, non-refundable purchase.

Aug 28th 2012
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

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

Aug 28th 2012
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

Non-refundable in most cases of purchase.

Aug 28th 2012
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John Schlobohm (jschlobohm)
#20 ranked lender in Connecticut - 18 contributions

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

Aug 28th 2012
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

No. Sorry.

Aug 28th 2012
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Jamie Nummer (SomersetLendingCorp)
#27 ranked lender in Michigan - 86 contributions

Appraisals are in most cases non-refundable. A situation which should have been explained by your loan officer.

Aug 28th 2012
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