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Borrower Appraisal Acknowledgment Loan Number: Date: Borrower: Property Address: You are entitled to receive a copy of any appraisal report that is obtained on your behalf, concerning your subject
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How to fill out borrower appraisal acknowledgment
How to fill out borrower appraisal acknowledgment:
01
Start by entering the borrower's name and contact information at the top of the form.
02
In the next section, provide the appraisal details, such as the property address, appraisal date, and appraiser's name.
03
Review the appraisal value and ensure it aligns with your understanding of the property's worth. If there are any discrepancies or concerns, it is advisable to raise them with your lender.
04
Next, sign and date the borrower's acknowledgment section to indicate that you have reviewed and understand the appraisal report.
05
If required, have a witness sign the form as well to add validity to the acknowledgment.
06
Finally, submit the completed borrower appraisal acknowledgment to your lender as per their instructions.
Who needs borrower appraisal acknowledgment?
01
Borrowers who are seeking a mortgage loan or refinancing their existing loan typically need to complete a borrower appraisal acknowledgment.
02
Lenders require this acknowledgment to ensure that borrowers have reviewed the appraisal report and are aware of the property's appraised value.
03
The borrower appraisal acknowledgment acts as a formal acceptance of the appraisal and helps protect both the borrower and the lender in case of any future disputes or misunderstandings regarding the property's value.
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What is borrower appraisal acknowledgment?
Borrower appraisal acknowledgment is a document signed by the borrower stating that they have received and reviewed the appraisal of the property.
Who is required to file borrower appraisal acknowledgment?
The borrower is required to file borrower appraisal acknowledgment.
How to fill out borrower appraisal acknowledgment?
To fill out borrower appraisal acknowledgment, the borrower needs to review the appraisal of the property and sign the document to acknowledge receipt.
What is the purpose of borrower appraisal acknowledgment?
The purpose of borrower appraisal acknowledgment is to ensure that the borrower has received and reviewed the appraisal of the property.
What information must be reported on borrower appraisal acknowledgment?
The borrower's acknowledgment of receipt and review of the property appraisal must be reported on the borrower appraisal acknowledgment.
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