Though the borrower will be charged for the cost of the appraisal, it is the lender that must hire the appraiser to develop the appraisal and to develop an opinion about home value.

You may hire a qualified appraiser to help prepare the appropriate documentation for provision to a lender-hired appraiser. However, any appraiser you hire cannot also work for the lender on the same appraisal.

Note that in addition to competence with specialized property types, appraisers need geographic competence in the market where the home is located.