Property Appraisal

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Jun 12th, 2020 12:40 am

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Jun 10th, 2020 9:56 pm

fizzerd [OP]: Sr. Member; Apr 26, 2007; 798 posts; 141 upvotes

Jun 10th, 2020 9:56 pm

Property Appraisal

I recent paid for an appraisal for my property which was arranged by a mortgage broker. But the broker says he is not allowed to share the appraisal copy with me? Is that a redflag for me to go further with this broker for a mortgage?

Thank my post if it helped!

5 replies

Jun 10th, 2020 9:57 pm

schade: Deal Addict; Dec 17, 2007; 2624 posts; 1618 upvotes; Alliston, ON

Jun 10th, 2020 9:57 pm

That's the way it is. The bank owns the appraisal even though you paid for it.

+1

Jun 11th, 2020 8:14 am

Owbist: Deal Addict; Nov 9, 2003; 1515 posts; 311 upvotes; Grimsby

Jun 11th, 2020 8:14 am

Look on the bright side. If they approve your mortgage then they feel that if you default there is enough of a home there to get their money back after repossession.

Jun 11th, 2020 11:45 am

CNeufeld: Deal Guru; Mar 23, 2008; 13006 posts; 9976 upvotes; Edmonton

Jun 11th, 2020 11:45 am

When we did our appraisal through our mortgage broker (lender was ScotiaBank), we got a full copy of the appraisal, which was nice. This was in Alberta.

C

Jun 11th, 2020 12:17 pm

RV123456: Member; Oct 5, 2016; 248 posts; 128 upvotes

Jun 11th, 2020 12:17 pm

When I did an appraisal about 6 months ago I didnt get a copy either but they did reimburse me for the appraisal, so that was good enough for me.

Jun 12th, 2020 12:40 am

Frankie3s: Deal Fanatic; Jul 4, 2004; 9371 posts; 2531 upvotes

Jun 12th, 2020 12:40 am

fizzerd wrote: ↑ I recent paid for an appraisal for my property which was arranged by a mortgage broker. But the broker says he is not allowed to share the appraisal copy with me? Is that a redflag for me to go further with this broker for a mortgage?

If you decide to go with the mortgagor, ask to have the appraisal fee refunded as one of the other posters had suggested.

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