Ever had an appraiser come to your place from a different county; sometimes 100+ miles away? or It has been reported that the appraiser signing the appraisal was not the person that showed up to your home?
Ever wonder why you were charged $500 for the appraisal but the appraiser only received $200?
WASHINGTON — The new Consumer Financial Protection Bureau is working on a real estate issue that gets to the core of the agency’s purpose: Bringing clarity and better disclosures about the often opaque and costly fees that homebuyers, sellers and refinancers are hit with at closings.
One of the disclosures now under review might surprise you: appraisal charges. Why do they need clarifying? Doesn’t just about everybody who applies for a mortgage, whether it’s to buy a house or refinance, have to pay $450 to $600 — sometimes more — to find out what the property is worth?
Read entire article at: http://www.telegram.com/article/20120126/COLUMN69/120129842/1002/business
Disclaimer: for information and entertainment purposes only.
Green Real Estate Appraiser 