Question by westjm26: Refinancing Mortgage: Appraisal fee question?
My lender turned me down today do to issues with the condo association. Well, the appraisal has been completed and I have a copy of it. Because I never paid for it, am I legally required to? The only reason why I ask is because this particular lender has really upsetted me throughout this process and I feel that they should pay the $ 350, not me.
I signed nothing stating who was going to pay for this appraisal.
Answer by dusty_titus
Did you make a formal written bid on this condo? One of the best “weasel clauses” for the prospective buyer, is if the cost of appraisal will revert to the seller, if lender refuses buyer. But I guess you didn’t think of it. Always check the paper (offer to purchase) for who pays what – seller may pay for home warranty/appraisal/sundry costs not associated with purchase. Look at your paper work, you signed it.
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