Who owns the appraisal?

In almost every case the appraisal is owned by your bank, even though you may have paid for it. This is because your bank orders the appraisal on your behalf, and the appraiser lists that bank on the appraisal report. Even though the bank owns the appraisal, you have the right to receive a copy. It is at the bank's discretion whether to give you the original appraisal.

What if I decide to use another bank after the appraisal has been completed?

This does not necessarily mean you will have to pay for another appraisal. Your first lender can transfer the appraisal to your new lender. Some appraisal firms may charge a small fee, however, because there is clerical work involved in editing the appraisal to reflect the new bank. This fee is called an "Appraisal Retype Fee." The original bank has the right to refuse to transfer the appraisal to another lender. In this event, you will need to get a new appraisal.