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Updated almost 3 years ago on . Most recent reply

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5
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Evelyn Liaw
1
Votes |
5
Posts

Previous lender refused to transfer an appraisal report I paid fo

Evelyn Liaw
Posted

Hi,

The previous lender ordered an appraisal for me. Now I changed to a new lender, and they basically have me jump through hoops and withholding my appraisal report and not transferring to the new lender. What can I do?

I didn't want to wait, so I went ahead and ordered another appraisal report through the new lender. Now the 2nd appraiser didn't know the market around the high desert area, didn't even put rental income into consideration and made so many mistakes. The 2nd appraisal came in significantly lower (80k) than the first appraisal report. It's a fourplex, and the rental income vs home value should be around the same value as the 1st appraisal report. 

Please advise...

Most Popular Reply

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1,026
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Arsen Atanasovski
  • Investor
  • Rochester, MI
580
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1,026
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Arsen Atanasovski
  • Investor
  • Rochester, MI
Replied

If you know the company that did the report I would call them. It happen to me and the when I call the company they said they were not allowed to give me a report that I paid for. So push came to a “will smith” slap and I called my credit card company and filed a dispute charge. Clearly states on my credit card agreement products and services not received to consumers may file a dispute, once the appraisal company received the dispute charge they had to prove to the credit card company that product or service was delivered and I got my report in 24 hours. 

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