Anyone know about this process and how long it takes? Lender #1 ordered the appraisal, I paid for it. Lender #1 had problems, I decided to try Lender #2, they tell me the loan is good to go, but they are willing to use the appraisal I already had done but need Lender #1 to release and transfer the case no.
I was thinking this was an electronic process and should take minutes, but it has been days. I am tired of waiting for piddly stuff like this. I am considering call corporate offices for Lender #1 to see if they have processed my request. They maybe stalling because they still want to do the loan.
Talk to your loan officer.
If it is taking this long, lender #2 isn't doing their job.
Takes a day or two.
Normally, you have to pay for it upfront.
You can ask your appraiser to release another copy to lender #2. He will hopefully do it for free, but might charge a small fee.
Call lender #1 -- if you paid for the appraisal, they are to dispose it the way you request. If you didn't pay for it, offer to pay for release.
I did pay for it. Lender #2 has a paper copy of the complete appraisal in hand. They just need the FHA case no to be transferred. So maybe I worded the title of this post odd.
I just got email from Lender #1, asking if we want to proceed with them. They know we are waiting for Lender #2. Makes me think they haven't done the transfer even though I requested it twice in writing.
I asked Lender #2 this morning if they had received the transfer yet and their computers were down, I haven't heard yet if it has occurred. FRUSTRATED!
Here you go (hands you a wet noodle). Start cracking it!!
They are making sure the appraiser is licensed, bonded, educated, has all of his teeth, and wears clean underwear. You should be fine. The appraiser you said you had sounded well qualified.