What are the disclosure requirements for an appraisal report and its delivery to borrowers?

For a mortgage, the lender orders the appraisal and the borrower typically pays for it, but the report belongs to the lender. Federal rules require the lender to provide the borrower a copy as soon as reasonably possible, and no later than three days before closing, at no charge for the copy itself. If the borrower believes the appraisal is inaccurate, they can request a reconsideration of value with supporting evidence such as comparable home sales, photos of improvements with receipts, and plat maps.