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Updated almost 16 years ago on . Most recent reply

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6
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Steve V
  • Roseville, CA
0
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6
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Is the appraisal system changing?

Steve V
  • Roseville, CA
Posted

I was told that lenders will no longer be able to choose the appraiser or give the appraiser a copy of the sales contract prior to the appraisal. My understanding is that when a lender needs an appraisal they would request one from a random pool that would then appraise the property without knowledge of the pending offer. Can anyone confirm this? If so when does this go into effect?

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