Real Estate Agent · Chicago, IL · Member since 2016 · 18 posts · 11 votes
I am in contract and I ordered an inspection and lender ordered appraisal. The inspection revealed some serious issues and I want to back out. I am wondering if I am on the hook for the appraisal cost since the lender ordered it?
Typically you are on the hook for the appraisal if it has been performed. If not, they should be able to cancel it without a charge. We usually don't have clients order an appraisal until the inspection is back as this happens quite a bit. Good luck in the Great White North!