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Updated about 8 years ago,

User Stats

9
Posts
2
Votes
Mas Yoshida
  • Aliso Viejo, CA
2
Votes |
9
Posts

Appraisal process and re-inspection fee

Mas Yoshida
  • Aliso Viejo, CA
Posted

Appraisal occurred for a turnkey property which was still undergoing rehab. Apparently the expectation was that the appraiser would come back again to complete the appraisal once the rehab was complete. I am now getting charged a re-inspection fee from the lender to have the appraiser come out again once the rehab is done. 

Is this re-inspection fee normal and best practice? Lender is saying appraiser should have been told rehab is not complete and to come back when done. Turnkey provider is saying having the appraiser do a conditional approval and having them come back for a re-inspection is normal. 

Are they both right? How can this fee be avoided for future properties?

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