Although you aren’t a key player in an appraisal, here are a few reminders of how the appraisal process works and your options for participating in it.
The Appraiser Works for the Mortgage Lender
The lender may order the appraisal either directly from an appraiser or through an appraisal management company that coordinates the process on behalf of the lender.
You Can Talk to the Appraiser
Real estate agents are allowed to communicate with the appraiser since you have an interest in the real estate transaction. You can also be at the property when the appraiser is there and answer her questions. Even so, give the appraiser space to do her job.
You Can Provide Documents to the Appraiser
Documents such as plats, surveys, deeds, covenants, neighborhood details, and comparable sales are all relevant items the appraiser may be able to use.
What to do With Your Concerns About the Appraisal Report
Appraisers cannot discuss their reports with anyone but their client—the mortgage lender—and anyone the lender designates to receive the information. Contact the lender in writing if you think there are errors in the report or if you want the appraiser to consider additional information.
What to do With Your Concerns About the Appraiser
Like real estate agents, appraisers are required to be competent in the geographic area in which they work. If you think the appraiser isn’t competent to appraise property in your area, contact the appraiser’s client—the lender who ordered the appraisal—and share your concerns. You can also contact the Texas Appraiser Licensing and Certification Board, which enforces the rules and laws appraisers must follow.