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Author: Dwdonhoff Big gold star, 5000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127570  
Subject: Re: No comps = no refi? Date: 10/12/2012 1:37 PM
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Hi WP,

Do you know if direct lenders have their own in-house appraisers or do they farm that stuff out?
The new laws require all residential loans to use independent (not in-house) appraisers.

If I were to get my own appraisal would they consider it?
No, but you can try to offer your own generated comparables to the lender's hired appraiser when he shows up to do his physical inspection. He's quite unlikely to accept them though... but you can offer.

I'd concur with JAFO's notes. If you are in San Diego proper (or even anywhere in that huge county,) there is enough general activity for an appraiser to use a mode to create a report.

Luck!
Dave Donhoff
Leverage Planner
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