The appraiser's opinion of value. The value conclusion contained in an appraisal is nonpublic personal information.
Are appraisal values public?
Appraisals are not public record. Lenders do not share appraisals with other lenders. We can order our own appraisals at any time with our appraisers, no matter what appraisal problems may have surfaced with another lender.May 18, 2015
Do you have to disclose an appraisal?
A: An appraisal is generally considered a professional opinion of the market value of a property, not a fact. Although it's both legally and ethically necessary to disclose a material fact, the same requirement doesn't apply to an opinion.Feb 1, 2007
What should you not say to an appraiser?
- I'll be happy as long as it appraises for at least the sales price.
- Do your best to get the value as high as possible.
- The market has been “on fire”. ...
- Is it going to come in at “value”?
Does the seller have the right to see the appraisal?
Home sellers aren't entitled to copies of the appraisals mortgage lenders conduct on behalf of their borrowers. If a home seller wants a copy of an appraisal, she should consider asking for a copy from the buyer. ... However, a copy may come in handy if the appraisal comes in low and price negotiations must ensue.
Does buyer have to disclose appraisal to seller?
Unless the purchase contract requires the buyer to share the appraisal, it may not be mandatory. You need to consult a local attorney to review your agreement and render an opinion on the appraisal sharing requirement if there is one.Aug 3, 2020
Does seller find out appraisal?
The seller often does not generally get a copy of the appraisal, but they can request one. The CRES Risk Management legal advice team noted that an appraisal is material to a transaction and like a property inspection report for a purchase, it needs to be provided to the seller, whether or not the sale closes.
Can seller back out if appraisal is high?
Can the seller back out if your appraisal is high? Realistically, the answer is “no.” For one, they accepted your offer and would be breaching the sales contract if they wanted to put the house back on the market to capture a higher price.Nov 2, 2021