For Borrowers: Remember if you switch mortgage companies mid stream the appraisal will have to be released to the other mortgage company by changing the orders' name on the appraisal. In most cases, the new mortgage company will have to fax over a new order and buy/sell and then the other company can recieve the previous appraisal from the appraiser.

You have a right to receive a copy of your appraisal report. However its only a copy and the rights may belong to either the broker or the lender depending on who ordered it.

There is often much confusion regarding the consumer's right to receive a copy of the appraisal report. Many borrowers mistakenly beleive that since they paid for the appraisal report that the report is theirs to do whatever they wish with it. Many beleive that it is an open document that they can use to shop around with different lenders. The fact is that even though the consumer has paid for it, the report was performed exclusively for the lender who ordered it and is the property of that lender. The borrower's right is only to receive a copy of the report. Any changes to the report or transfer of the lender will have to come with the approval of the original ordering lender.

If you are having trouble receiving a copy of your appraisal report from the mortgage company, submit your request in writing and refer explicitly to your legal right to receive and their obligation to furnish this report.

The appraisal will have a detailed analysis on the value of your home, as well as recent sales of comparable homes in the vicinity.