Question in monetary law
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Question
Hello,
I hired a mortgage consultant for a renovation loan; the consultant told me that the case was complex but that he would manage it.
At first I paid him a file-opening fee of 1,000 NIS.
After about a month his secretary contacted me to coordinate with an appraiser, at a cost of 4,000 NIS (an amount higher than the standard).
Before I scheduled with the appraiser I had serious doubts as to whether the loan would go through, so I asked his secretary whether there was any point in ordering an appraiser now, whether this would not be a needless expense, etc.
She said no, that she was not calling an appraiser for nothing, but because they see that the case will certainly be approved.
After about a year the case was not approved, and therefore, after I requested it, the file-opening fee of 1,000 NIS was refunded to me.
Regarding the appraisal fee, the consultant refuses to refund me, claiming that he told me from the outset that the case was complex.
My question is: is he required to refund me the appraisal fee?
Thank you
I hired a mortgage consultant for a renovation loan; the consultant told me that the case was complex but that he would manage it.
At first I paid him a file-opening fee of 1,000 NIS.
After about a month his secretary contacted me to coordinate with an appraiser, at a cost of 4,000 NIS (an amount higher than the standard).
Before I scheduled with the appraiser I had serious doubts as to whether the loan would go through, so I asked his secretary whether there was any point in ordering an appraiser now, whether this would not be a needless expense, etc.
She said no, that she was not calling an appraiser for nothing, but because they see that the case will certainly be approved.
After about a year the case was not approved, and therefore, after I requested it, the file-opening fee of 1,000 NIS was refunded to me.
Regarding the appraisal fee, the consultant refuses to refund me, claiming that he told me from the outset that the case was complex.
My question is: is he required to refund me the appraisal fee?
Thank you
Answer
Shalom u-vracha
There is no basis to demand from the consultant the reimbursement of the appraisal expense, since it was clear from the outset that the approval of the case was not certain.
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