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    RGizzi's Avatar
    RGizzi Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Jun 3, 2009, 04:50 PM
    FHA appraisal
    I had an FHA appraisal done on a foreclosed home I'm buying... it cost me
    $475.

    There were some issues which the seller(the bank) fixed. When the appraiser
    Came out again to look at the fixes. He wouldn't release the report to my
    Underwriter until I paid a $150 reappraisal fee.

    Is that legit?
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
    Ultra Member
    		  
    #2

    Jun 3, 2009, 05:06 PM

    He did additional work... why shouldn't he charge for it?
    RGizzi's Avatar
    RGizzi Posts: 6, Reputation: 1
    New Member
    		  
    #3

    Jun 3, 2009, 06:02 PM
    I'm fine with that if that's the case.
    I was told this was very uncommon. I was told that the
    Original $475 was the highest fee they ever seen an appraiser
    Charge.

    This company in New York hired this guy from San Diego to come
    Up to Palm Springs to do this... there aren't any FHA appraisers in the
    PS area?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #4

    Jun 3, 2009, 07:21 PM

    Really not that high a fee, slightly high for a local person, but not out of line at all
    RGizzi's Avatar
    RGizzi Posts: 6, Reputation: 1
    New Member
    		  
    #5

    Jun 3, 2009, 07:26 PM
    Is it common to charge a reappraisal fee?
    My real estate agent and mortgage broker said
    They've never heard of this
    stevetcg's Avatar
    stevetcg Posts: 3,693, Reputation: 353
    Ultra Member
    		  
    #6

    Jun 4, 2009, 05:25 AM

    Not common, but also not unheard of. Mine tried but the mortgage broker talked him out of it.
    twinkiedooter's Avatar
    twinkiedooter Posts: 12,172, Reputation: 1054
    Uber Member
    		  
    #7

    Jun 4, 2009, 04:21 PM

    Considering he had to travel to go to Palm Springs from San Diego I don't think his fee was out of line. That's probably why he charged for a reappraisal fee as well. You should have gotten a local appraiser instead. Had he been local and didn't have to drive how many hours back and forth I'm sure his fee would have been much less.
    RGizzi's Avatar
    RGizzi Posts: 6, Reputation: 1
    New Member
    		  
    #8

    Jun 4, 2009, 04:25 PM
    This wasn't my choice.
    The underwriter in NY picked
    Out the company that provides
    FHA Appraisers.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #9

    Jun 4, 2009, 04:57 PM

    He did the work; he is entitled to be paid. I don't find this the least bit unusual.

    It's the cost of dealing with the FHA.
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