Does appraisal copy go to the sellers?

Does appraisal copy go to the sellers?

When a home appraisal is conducted during a real estate transaction, the appraisal copy typically does not go directly to the sellers. The appraisal report is primarily prepared for the lender to assess the property’s value and determine the loan amount they are willing to provide to the buyer.

However, sellers can request a copy of the appraisal report from the buyer’s lender or agent. This can provide valuable information to the sellers about how the property was appraised and the factors that influenced the appraiser’s valuation.

Related FAQs:

1. Can sellers request a copy of the appraisal report?

Yes, sellers can request a copy of the appraisal report from the buyer’s lender or agent.

2. How can sellers obtain a copy of the appraisal report?

Sellers can ask the buyer’s agent to provide them with a copy of the appraisal report or request it directly from the buyer’s lender.

3. Can sellers request a different appraisal if they disagree with the valuation?

While sellers cannot request a new appraisal, they can provide additional information or comparables to the buyer’s lender if they believe the appraisal value is inaccurate.

4. Is the appraisal copy shared with the sellers before closing?

In most cases, sellers do not receive a copy of the appraisal report before closing. However, they can request a copy from the buyer’s lender.

5. How does the appraisal report affect the sellers?

The appraisal report can impact sellers indirectly by influencing the buyer’s ability to secure financing for the purchase of the property.

6. Do sellers have input in the appraisal process?

Sellers do not have direct input in the appraisal process, as it is primarily between the buyer’s lender and the appraiser.

7. Can sellers challenge the appraisal report?

While sellers cannot challenge the appraisal directly, they can provide additional information or evidence to support their case to the buyer’s lender.

8. Are sellers provided with a summary of the appraisal findings?

Sellers may receive a summary of the appraisal findings from the buyer’s lender or agent if requested.

9. How does the appraisal value impact the sellers’ bottom line?

The appraisal value can impact the sellers’ bottom line by influencing the selling price of the property and potentially affecting the amount of profit they make from the sale.

10. Can sellers use the appraisal report for future sales?

Sellers can use the information from the appraisal report to better understand the value of their property for future sales or refinancing purposes.

11. Can sellers contest the appraisal value if it is lower than expected?

While sellers cannot directly contest the appraisal value, they can provide additional information or evidence to the buyer’s lender to support a higher valuation.

12. Can sellers appeal the appraisal report?

Sellers cannot appeal the appraisal report, but they can provide additional information or evidence to the buyer’s lender to support their case.

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