you a copy of any appraisal, even if your loan does not close. Effective January 2014, lenders must inform borrowers within three days of applying for a loan of their right to receive a copy of the home appraisal. The rules updated the Right to Receive Appraisal Disclosure requiring the name of the borrower, the loan number and a disclosure date within three days of the loan application date. However, the separate Notice of Right to Copy of Appraisal disclosure still applies to those transactions in first lien position that are exempt from use of the Loan Estimate & Closing Disclosure. You have a right to receive a copy of the appraisal report used in connection with your loan application. costs that We incur in connection with such appraisal or other written valuation. In such a case, the process is to contact the lending institution and ask for their dispute process. [Lender / Broker Name] [Lender Address] [Borrower Name] [Property Street Address] To obtain additional information on Your right to receive a copy of appraisals, including the amount of the Your written request must be received by us within 90 days after we have provided notice of action taken To receive a copy of the appraisal report, please send your request in writing to us at the address below. The buyer has a right to obtain a copy, presuming the buyer has paid for it; but it is not the buyer's investigation. Please initial applicable statement: _____ I/We wish to receive a copy of the appraisal report or valuation no less than three (3) business days prior to the Right to Receive a Copy of Appraisal and Valuations (Prepared by broker to be given to borrower at the time of application, dated and submitted with the loan application package .) It is the lender's. What Happens After a Low Appraisal . The language regarding the consumer’s right to receive a copy of the appraisal is included in the Loan Estimate, and there is no requirement for this to be a separate disclosure. We will not however, charge You for any photocopy costs, postage costs, administrative costs, or other costs We incur in providing the copy(ies). You can see why the seller would want a copy of a low appraisal. (a) Providing appraisals and other valuations - (1) In general. Indeed, many buyers never see the appraisal, even though they do have a right to request a copy. When does the Notice of Right to Receive a copy of an Appraisal apply? Notice of Right to Receive Copy of Appraisal Report The following notice is being provided to you as an Applicant for credit secured by a first lien on a 1‐4 family, residential dwelling. You may be required to reimburse the cost of an appraisal on the property listed above. You can pay for an additional appraisal for your own use at your own cost. They can look for misinformation that could have affected the appraisal and dispute it. appraisal, and in any event, no less than three (3) business days prior to the closing of the loan. Secondly, it is arguable that the appraisal -- even if it is an investigation -- is not the buyer's investigation. A creditor shall provide an applicant a copy of all appraisals and other written valuations developed in connection with an application for credit that is to be secured by a first lien on a dwelling. This notice states your right under federal law to receive a Notice of Right to Copy of Appraisal with Waiver (ECOA) (5/2018) ... receive any copy at or before the time I/we become contractually obligated on the transaction (for closed-end credit) or account opening (for open-end credit), except where otherwise prohibited by law. 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