An appraisal request form is the official order a lender sends to an appraiser, containing the property address, borrower name, loan type, purpose of the appraisal, and the contact person for property access. It's the starting document that defines my assignment scope and requirements.
What Is an Appraisal Request Form?
Appraisal request form = official order from lender to appraiser.
Also called:
- Appraisal order
- Appraisal request
- Appraisal assignment
Form includes:
- Property address
- Loan amount
- Borrower info
- Purpose of appraisal (purchase, refinance, etc.)
- Any special requirements
- Deadline
Who Submits It?
Lender (or mortgage company) submits to appraiser.
Sometimes through appraisal management company (AMC).
AMC acts as middleman between lender and appraiser.
AMC filters requests, assigns to appraisers, manages timeline.
Key Information on Form
Property Details:
- Full address
- County, assessor parcel number
- Property type (single-family, condo, etc.)
Loan Information:
- Loan amount
- Purchase price (if purchase)
- LTV (loan-to-value) ratio
- Interest rate
Borrower Info:
- Borrower name
- Contact information
- Sometimes credit score range
Purpose:
- Purchase appraisal
- Refinance appraisal
- Cash-out refi
- Rate-and-term refi
- Home equity line
Special Instructions:
- "Value basement as living space only if code-compliant"
- "Do not include recent additions until permits obtained"
- "Client has concern about recent distressed sale nearby"
Why Lender Provides This Info
Lender tells appraiser:
- What they're financing (protects lender)
- What they expect (guides appraisal methodology)
- Any known issues (helps appraiser prepare)
Example: If lender notes "property has significant water damage," appraiser knows to assess condition carefully.
Appraiser Independence
Important: Appraiser is INDEPENDENT.
Form provides information. It doesn't influence appraisal result.
Appraiser values property based on:
- Comparable sales analysis
- Property condition
- Market data
Not based on what lender "wants" value to be.
LTV Impact
LTV (loan-to-value) on form affects appraisal methodology.
High LTV (95%+ loan):
- Lender is taking more risk
- Appraiser might be more conservative (defensive)
- Close scrutiny of adjustments
Low LTV (60-70% loan):
- Lender is taking less risk
- Appraiser has flexibility
- Easier appraisal process
LTV doesn't change value, but it contextualizes risk.
Purchase vs. Refinance Forms
Purchase Appraisal Form:
- Includes purchase price (contract price)
- Includes sale date
- Includes parties (buyer, seller sometimes)
- Purpose: Lender wants to verify purchase price = fair market value
Refinance Appraisal Form:
- Includes current loan amount
- No sale (no recent contract)
- Purpose: Lender wants to verify equity situation
Different forms for different loan purposes.
How Appraiser Receives Form
Traditional method:
- Lender faxes or emails form to appraiser
- Appraiser confirms receipt
- Appraiser begins work
Digital method (becoming standard):
- Appraisal management company (AMC) sends through online portal
- Appraiser accepts through portal
- Automatic workflow
Modern appraisals: Mostly through digital systems now.
Timeline on Form
Appraisal deadline specified on form.
Standard: 10 business days (varies by lender).
Rush appraisals: 5-7 days.
Appraiser confirms they can meet deadline before accepting.
Missing deadline: Appraisal delayed, loan closing delayed.
Client Instructions Box
Forms often include box for special instructions:
Common instructions:
- "Client concerned about neighborhood condition"
- "Include recent permits/improvements"
- "Property in flood zone, note any drainage issues"
- "Request photo addendum for additional comparables"
Appraiser reads instructions, takes notes, addresses in report.
Comparable Sales Box
Form sometimes requests:
- Specific comps to use
- Avoid certain areas as comps
- Recent sales that should be considered
Appraiser considers suggestions but uses professional judgment.
Example: "Please include the recent waterfront sale at 123 Beach Drive."
Appraiser might use it if it's relevant, or note why it's not comparable.
Loan Program Information
Form notes loan program:
- Conventional (Fannie Mae/Freddie Mac)
- FHA (Federal Housing Administration)
- VA (Veterans Affairs)
- USDA (Department of Agriculture)
- Jumbo loan
- Portfolio loan
Different programs have different appraisal standards.
FHA: Very strict on property condition.
Conventional: More flexible.
Appraiser Review
After receiving request form:
Appraiser reviews:
- Property details (address, type, size)
- Loan purpose (helps frame analysis)
- Deadline (can I meet it?)
- Special instructions (anything unusual?)
If appraiser can't meet deadline or has concerns: Declines assignment.
Form Accuracy
It's critical that form details are accurate.
Example: If form says 3-bedroom, but property is 2-bedroom, appraiser might arrive unprepared.
Lenders should verify details before submitting.
Digital Platforms
Most appraisals now ordered through digital platforms:
- LenderSelect
- AMC portals
- Appraisal management software
Forms filled out digitally, submitted electronically.
Faster, more efficient than paper/fax.
Appraiser Confidentiality
Appraisal request form is confidential.
Appraiser doesn't share with:
- Borrower (until report delivered)
- Seller (never)
- Third parties (never)
Information on form is private until appraisal report is released.
Fees on Form
Form specifies appraiser fee.
Standard: $400-$600 for residential appraisal.
Rush fee: Higher ($100-$200 more).
Complex property: Higher.
Appraiser confirms they'll accept fee before accepting assignment.
Declining an Assignment
Appraiser can decline appraisal request if:
- Can't meet deadline
- Not qualified for property type
- Conflict of interest (recent work in area, knows borrower, etc.)
- Fee too low
- Geographic area too far
Declining is professional. Better than struggling.
Communication After Form Submission
Appraiser typically:
- Receives form through digital platform
- Reviews within 24 hours
- Accepts or declines
- Schedules inspection
- Conducts inspection
- Prepares report
- Delivers report to lender
Form is starting point. Inspection is real work.
Lender Protection
Appraisal request form protects lender by:
- Creating formal documentation of order
- Specifying terms (deadline, fee, etc.)
- Creating paper trail (compliance)
- Ensuring appraiser understands scope
If appraisal is disputed later, form proves lender ordered it properly.
Bottom Line
Appraisal request form = formal order from lender to appraiser.
It provides context: loan amount, property details, purpose.
Appraiser uses form to understand scope and deadline.
Form doesn't influence appraisal result (appraiser is independent).
But form ensures appraiser has necessary information.
Modern forms submitted digitally through AMC platforms.
Standard timeline: 10 business days.
Forms are professional, critical part of lending process.