This Seller's Information for Appraiser provided to Buyer form is used by the Buyer in Wisconsin to provide information required by an appraiser in order to conduct an appraisal of the property prior to purchase. The Seller provides this completed form to the Buyer, who furnishes it to the appraiser. This form is designed to make the transaction flow more efficiently.
Green Bay Wisconsin Seller's Information for Appraiser provided to Buyer
Category:
State:
Wisconsin
City:
Green Bay
Control #:
WI-00472-2
Format:
Word;
Rich Text
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How to fill out Wisconsin Seller's Information For Appraiser Provided To Buyer?
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FAQ
?Whether it's the seller's agent or the seller themselves it's often beneficial to have someone present during the appraisal to answer questions and provide that extra information,? said Beth Graham of Beth Graham Appraisals.
You will have time to prepare for an appraisal as a seller. You will be notified once the appraisal is scheduled; however, we recommend preparing for the appraisal once you have an executed contract. The mortgage lender will order the appraisal once the buyer signs and returns the initial loan disclosures.
Fortunately, most house appraisals do not ruin a sale. However, there are some common myths that sellers believe that need to be dispelled. The more you know what to expect, the less likely you are to be unpleasantly surprised.
Can I speak to the appraiser? Yes! Regulations allow real estate agents, or other persons with an interest in the real estate transaction, to communicate with the appraiser and provide additional property information, including a copy of the sales contract.
Yes! Regulations allow real estate agents, or other persons with an interest in the real estate transaction, to communicate with the appraiser and provide additional property information, including a copy of the sales contract.
Can the seller back out if the appraised value is too high? The conditions of the offer contract will determine when the buyer and seller can back out of the purchase. However, the seller may simply want to renegotiate if the appraised value comes back significantly higher than the selling price.
Lenders are not allowed to initiate dialogue with an appraiser at any time or discuss appraisal after receipt of report. during the assignment, the appraisal department must be aware in advance of all communication between the loan officer and the appraiser.
Just keep your communication to the appraiser about the facts of the home and neighborhood, how you priced the house, and any other relevant information you think the appraiser should know. And remember, don't discuss value. Don't pressure the appraiser to 'hit the value' and you'll be fine.
Unless the purchase contract requires the buyer to share the appraisal, it may not be mandatory. You need to consult a local attorney to review your agreement and render an opinion on the appraisal sharing requirement if there is one.
The CRES Risk Management legal advice team noted that an appraisal is material to a transaction and like a property inspection report for a purchase, it needs to be provided to the seller, whether or not the sale closes.