who should pay for appraisal fee if loan didn't get approved?

The lender(WFB) eventually told us the loan was denied b/c it is a flipper property. However, lender already done 2 appraisals twice, which cost $700.

Who should pay for the appraisal fee?

The bank: because they should've told us at the very beginning that they don't finance flipper property before they even ordered the appraisals

The loan agent: my buyer agent told me that one of her clients has similar situation and loan agent paid for appraisal b/c loan didn't get through

Me? :-(

 

所有跟帖： 

• 上次我沒貸成，自己付了。 -猛牛- ♀ (0 bytes) () 02/02/2012 postreply 13:26:26

• good news. my loan agent just offered to pay for all my appraisa -whatif2007- ♀ (0 bytes) () 02/02/2012 postreply 15:23:04

• Normally you. It is your business risk/cost -beachlver- ♂ (483 bytes) () 02/02/2012 postreply 14:04:08

• 回複：Normally you. It is your business risk/cost -whatif2007- ♀ (281 bytes) () 02/02/2012 postreply 14:22:27

• A flipper typically requires two appraisals -greenfieldcn- ♂ (180 bytes) () 02/02/2012 postreply 23:51:59

• 回複：who should pay for appraisal fee if loan didn't get approved? -lucyliuhome- ♀ (207 bytes) () 02/05/2012 postreply 22:44:40