Is Appraisal Ordering Restricted?
In short, no. In reality, sometimes.
Lenders Order Appraisals For Loans, But You Can, Too
The basic rules of appraisal ordering:
- Anyone can order an appraisal on their own home for any reason, from any licensed appraiser.
- If the appraisal is for the purposes of re-financing, or purchasing a home, the appraisal needs to be ordered by the lender, to be accepted by the lender. You may never even get a copy.
- Realtors can order appraisals, with their client’s consent, to help properly list the property at the likely selling price.
- Attorneys can order appraisals for clients.
- For PMI removal, check with your lender to see if they have any sticky rules about appraisal ordering (they shouldn’t, but better to know for sure!).
- And so on.
Things to Remember When Ordering an Appraisal
- Make sure the appraiser knows the area well.
- Make sure that everyone that will need to receive a copy is listed as as an intended audience.
- Make sure you know what to expect, and how to prepare for the appraisal inspection.
- Read our page about Appraisal IQ so you know what to expect from our service.
- Read our FAQ.
- Ask, Ask, Ask.
