The Bank must ensure that the Borrower is provided a copy of any appraisal report concerning the Borrower’s subject property promptly upon completion at no additional cost to the Borrower, and in any event no less than three days prior to the closing of the loan. The Borrower may waive this three-day requirement if such waiver is obtained at least three days prior to the closing of the loan. The Bank may provide the Borrower at closing, a revised copy of an appraisal and information as to the nature of any revisions, so long as the revisions had no impact on value.
The Bank may require the Borrower to reimburse the Bank for the cost of the appraisal.