Any way i can get around paying for an appraisal?
I had approval on a mortgage loan and the day before my closing date,I lost my job and didnt get the loan.Now the mortgage company says that I owe $500 for the appraisal.Is this correct or is there any kind of hardship I can claim?
Asked By: Eric N - 1/18/2011
Best Answer - Chosen by Asker
Appraisal has to be paid evenif you don't get the loan. They did their job.
Answered By: justanotherdick57 - 1/18/2011
Additional Answers (4)
No you must pay for services rendered
Answered By: someone - 1/18/2011
Answered By: Woof - 1/18/2011
If you agreed to pay for the appraisal, regardless of whether or not the loan went through, then you have to pay for it. Look at the papers you signed, to see if it's correct. If you signed NOTHING (not likely, or you wouldn't have that approval in hand), then you're not on the hook for ANYTHING.
Answered By: mbrcatz - 1/18/2011
Appraisal come from outside companies. The appraiser works for a company that is hired by the bank. They will be paid from the bank. The bank will go after you for the payment. It is not the banks fault or the appraisers fault you lost your job. They will not have any sort of hardship for it, it was your choice to... More
Answered By: AJ - 1/18/2011
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