Scaring the Straights

May 15, 2007 18:36

So, things are not looking good. Everything was progressing nicely, but then our lender sent out an appraiser to look at the property ( Read more... )

banks, house buying

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bibulb May 16 2007, 02:40:56 UTC
What's the situation with this second appraiser? Is she just balking at being ASKED to do a reportedly difficult job?

(of course, the idea that fair market value on something like this might simply be what both seller and buyer mutually agree on can not work. oy.)

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quantumduck May 16 2007, 03:29:49 UTC
Well, officially she felt this was outside her area of expertise, but she did suggest a third appraiser who could probably help. We're pressing the Lender to work with this third person, but he's getting a bit annoyed.

I guess HIS appraiser's freak-out made a big impression. The first appraiser seems to have felt that there were 'significant structural issues'. This strikes me as odd, since our inspector didn't note any such thing.

We got to see photos that the first appraiser took, and he seemed to be concentrating on the admittedly hastily assembled garage extension which we'd probably be demolishing, and minor issues like a hole in one interior wall (where a wall AC used to go, which had been hastily patched), and lack of trim on a doorway. I think this is a simple case of Mountain out of Molehill's disease.

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