lender appraisal responsibilities

What is the name of your state? Washington State

The lender ordered the appraisals for two income properties that I was trying to purchase. All of my financial information was provided prior to the purchase and the lender said they were doing the research to qualify me. Two days before closing they came back and said I did not qualify. And now they are hitting me up for the appraisal costs. During the entire relationship, I signed nothing with the lender. Am I responsible for their poor work on qualifying me before the appraisals were ordered?

[HomeGuru]

Originally posted by propowner
What is the name of your state? Washington State

The lender ordered the appraisals for two income properties that I was trying to purchase. All of my financial information was provided prior to the purchase and the lender said they were doing the research to qualify me. Two days before closing they came back and said I did not qualify. And now they are hitting me up for the appraisal costs. During the entire relationship, I signed nothing with the lender. Am I responsible for their poor work on qualifying me before the appraisals were ordered?

**A: are you saying that you did not give the lender a signed loan application etc. and never agreed to have the appraisals completed?

I provided my financial statements that they were to loan on, but I never signed an application. I also knew they ordered the appraisals, but thought the financing was checked and signed off on.

Thanks

Any ideas of how to handle this?

[HomeGuru]

Negotiate.