• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Am I obligated to pay for appraisal fee if I back out of refinancing my home?

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

J

JDB520

Junior Member
What is the name of your state?I recently contacted a lender about refinancing my house. I signed some preliminary paperwork which the loan officer told me I had to sign in order to get the ball rolling. They sent an appraiser to appraise my home, however I never received a good-faith estimate prior to this. Two weeks after the appraisal, I finally received notification of what the loan fees would be, which were more than I expected. At this point, I decided that I did not want to proceed w/ the refinance. Now, the loan officer has threatened to turn me over to collections if I do not pay $300 for the appraisal. The loan officer has not provided me any copies of the paperwork I signed, despite my many requests. Am I legally obligated to pay for this? What should I do?

I am in Utah, if this makes any difference.

Any advice would be much appreciated
 


S

seniorjudge

Guest
JDB520 said:
What is the name of your state?I recently contacted a lender about refinancing my house. I signed some preliminary paperwork which the loan officer told me I had to sign in order to get the ball rolling. They sent an appraiser to appraise my home, however I never received a good-faith estimate prior to this. Two weeks after the appraisal, I finally received notification of what the loan fees would be, which were more than I expected. At this point, I decided that I did not want to proceed w/ the refinance. Now, the loan officer has threatened to turn me over to collections if I do not pay $300 for the appraisal. The loan officer has not provided me any copies of the paperwork I signed, despite my many requests. Am I legally obligated to pay for this? What should I do?

I am in Utah, if this makes any difference.

Any advice would be much appreciated
Click to expand...
Q: Am I legally obligated to pay for this?

A: Yes.
 
J

John Se

Member
surprised

I'm surprised you didnt have to write a check to the appraiser when they showed up, Around here you do (in AZ) I always have had to.
 
You must log in or register to reply here.

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
Top