- Jan 20, 2010
- Professional Status
- Certified Residential Appraiser
I just received a request to remove one of the Buyers names listed on the Subject contract from the appraisal. I replied and asked them for an addendum to verify this since the copy of contract I have lists 2 Buyers and is signed by both. I then received this reply the AMC. "Contract indicates that both parties are to be listed as Owners of the property (both will be on title), but that does not necessarily mean that both will be on the loan. Lender stated, "XXXXX is the only borrower. YYYYY is on the contract and on title only (not a borrower).". There is no need for an addendum to the sales contract". Am I not supposed to indicate exactly who is listed and signed the contract?