Seller's Information for Appraiser provided to Buyer - Illinois 2025

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In Summary. While buyers dont receive access to the appraisal immediately after inspection, they are entitled to a copy at or just 3 days before closing once the lender has reviewed and approved the final version of the report. The lender needs time to properly review the appraisal before the borrower sees it.
Appraisers know that appraisal reports contain confidential information and assignment results. Within USPAP, confidential information is that which is not publicly available and is identified by an applicable law or regulation.
Sellers will only see the appraisal if the value is low Keep in mind that most sellers never see the appraisal report.
A lender uses an appraisal not only to assess the value of the property, but also to determine such things as your interest rate, required down payment, and whether you will be approved for the loan.
In California, all residential purchases use the same Residential Purchase Contract, often called the RPA. Listing agents know in the RPA, that the seller and the sellers agent have a right to receive the report.

People also ask

The appraisal is the banks but they provide you a copy by law but its essentiallya courtesy copy. You do not have to share or disclose anything about it. Do not tip your hand to the sellers or their agent; only tell them if you think it will help your situation.
While the lender is technically the owner of the appraisal, as a home buyer you still have certain rights: You have the right to obtain your own appraisal, even if you are paying cash for a property. You have the right to know what type of valuation service is being ordered for your loan.

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