appraisals

[sweet_caligirl]

What is the name of your state? ca..If you get a home equity loan, does the company you go through usually pay for the appraisal or do most people pay it out of their own pocket?

 

[FloridaRob]

Depends....Some companies offer paying for the appraisal as an incentive to use them. At least a $300 value.

I would say most applicants pay for the appraisal tho. Either at the time of inspection or at the closing. If the company does not guarantee the fee, then usually the appraiser would want the money up front.

If somethign happens before closing, the applicant has little incentive to pay the appraiser for his work.

 

[nextwife]

Depending upon what LTV you are dealing with, there are equity loans written that do not require ANY appraisal - especially through local bank systems and CUs who offer portfolio products.