Appraisers and lenders - what is the appraiser's role?

Most appraisals are done for mortgage lenders. Most appraisers work for lenders, particularly if they specialize in appraising homes. The appraiser's role is to provide an objective, unbiased opinion of value to the lender. Appraisers work for the lenders, not the owners, buyers, or sellers, even if one of them pays for the appraisal by writing a check to the appraiser. Federal banking regulations require that the lender order the appraisal. This was a result of regulations coming from the Savings and Loan scandals in the late 1980s.

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