Who Owns the Completed Appraisal Report?

“If I paid for the appraisal, why can’t I get a copy?”

This is one of the most frequent questions appraisers hear from homeowners. The answer isn’t always intuitive and depends on who engaged the appraiser in the first place. This article explains how appraisal ownership works and why access to the report differs between lender-ordered and privately ordered appraisals.

When a Lender Orders the Appraisal

In purchase or refinance transactions, appraisals are almost always ordered by the lender (or through an Appraisal Management Company acting on the lender’s behalf). Even though the borrower pays the appraisal fee as part of closing costs, the lender is the appraiser’s client.

Because the lender is the client:

• The appraisal report is delivered to the lender

• The appraiser is not authorized to send the report directly to the homeowner

• The lender is required to provide a copy of the appraisal to the borrower

This isn’t an appraiser preference—it’s a confidentiality rule governed by USPAP. Appraisers are obligated to protect the appraiser-client relationship and can only share the report with parties authorized by the client or required by law.

Who Can See a Lender-Ordered Appraisal?

In a typical lender transaction, access to the appraisal is limited to:

• The appraiser

• The lender

• The borrower (via the lender)

The report is not shared publicly or with unrelated third parties.

When the Homeowner Orders the Appraisal

The rules change when the appraisal is ordered directly by a private party. Examples include:

• Pre-listing appraisals

• Estate or trust appraisals

• Tax appeal appraisals

• Divorce or bankruptcy appraisals

In these cases, the homeowner (or private party) is the client. Once the appraisal is completed, it is delivered directly to them. No one else receives the report unless the client specifically authorizes its release.

The confidentiality standards are the same—but the ownership and control of the report rest with the person who ordered it.

The Bottom Line

Paying for an appraisal does not automatically make you the owner of the report. Ownership and disclosure rights depend on who engaged the appraiser.

• Lender-ordered appraisal → lender controls distribution

• Privately ordered appraisal → client controls distribution

Understanding this distinction helps avoid confusion and ensures appraisal reports are handled properly and ethically.