What counts as a lender’s appraisal?

2 Replies

We are in escrow and we paid our mortgage lender for an appraisal but the appraisal had no analysis, only photos, this doesn’t offer any information, only a subjective visual report, correct? The mortgage lender said they want several things fixed but the seller has said this is an as-is sale. I have requested more than pictures from this appraisal but they are dragging their feet, the lender says they will get the full report over as soon as this appraiser send it. *Are Images the only thing that mortgage lenders base their approval? This is making me upset, because not only do I feel ripped off from having to pay for that report but now the 2nd lender wants to see it.
Originally posted by @Lynne MacFarlane :
We are in escrow and we paid our mortgage lender for an appraisal but the appraisal had no analysis, only photos, this doesn’t offer any information, only a subjective visual report, correct? The mortgage lender said they want several things fixed but the seller has said this is an as-is sale. I have requested more than pictures from this appraisal but they are dragging their feet, the lender says they will get the full report over as soon as this appraiser send it. *Are Images the only thing that mortgage lenders base their approval? This is making me upset, because not only do I feel ripped off from having to pay for that report but now the 2nd lender wants to see it.

 Every appraisal I paid for or saw when I was a loan officer had several pictures of each of the properties used as comps, a write up of the way the appraiser determined his opinion of values, all of the metrics of each property and was about 15 pages when you include his certifications and licenses and all the fluff. It must be a new way of lending money, kind of like good ol' 2008 NINJ loans (No income, No Job). I'd probably shop around for a different lender since the lender has already told you they want things fixed before they give you money and it is an "as is" sale. Why spit into the wind? Take the easier route and find a real lender.