Frustration with Lender over Appraisal and Lack of Communication.

I don’t know, maybe she’s sick of my emails.

Context: Set to close on Jan 4th. Its a rural property, we got our kids off to college and sold our house (currently living in a rental owned by family) and looking to do the empty nest homestead thing. We believe we are getting a great deal on a FSBO but there are no real comps, nothing like it.

In any case, an appraisal is required by my lender (we are putting down 20%, though) We got all the paper work required of us (3 times over – did I mention I was frustrated with my lender?) about 3 weeks ago and connected them with our Title Company (they are 2 arms of the same big credit union, so it should be easy to communicate, right? Meh) At that point they said they ordered the appraisal. I did my part and got all the inspections done almost immediately.

So we have spent the last 2 weeks asking for updates and getting nothing but partial answers and vague assurances until yesterday when I got a cryptic text message that the appraiser would be at the property 9am on Dec 24th…The seller rejected because they were planning to be out of town with family. They do not have an agent, so goes with the territory I suppose – no one to open the house up for them. The text I got had no contact information at all for the appraiser so we still don’t have a date with closing looming.

Again, I am not too terribly worried about the number they come back with. It ought to be okay. Seller asked $315 we offered $270 – settled at $280. Its 10 acres with a cool old farm house. Needs work, but is built like a tank. It absolutely perfect for what we want. But…getting it done and in the file to the lender’s satisfaction has to be done or this gets pushed off. I would like to think I have a good rapport with the seller and they are set on selling to us, but if this misses the date and they do not agree to extend (if they get a better offer) I might lose it.

Anyway…I have been told this is a thing. Appraisers are super busy and hard to schedule. I am in a fairly hot market (San Antonio) and this is just outside of the city, so appraisers would be from there. There’s no excuse for the lender’s rep not communicating with us and ignoring emails, going to voicemail, etc. but they may also be frustrated.

submitted by /u/Thunderhorse74
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I don’t know, maybe she’s sick of my emails. Context: Set to close on Jan 4th. Its a rural property, we got our kids off to college and sold our house (currently living in a rental owned by family) and looking to do the empty nest homestead thing. We believe we are getting a great deal on a FSBO but there are no real comps, nothing like it. In any case, an appraisal is required by my lender (we are putting down 20%, though) We got all the paper work required of us (3 times over – did I mention I was frustrated with my lender?) about 3 weeks ago and connected them with our Title Company (they are 2 arms of the same big credit union, so it should be easy to communicate, right? Meh) At that point they said they ordered the appraisal. I did my part and got all the inspections done almost immediately. So we have spent the last 2 weeks asking for updates and getting nothing but partial answers and vague assurances until yesterday when I got a cryptic text message that the appraiser would be at the property 9am on Dec 24th…The seller rejected because they were planning to be out of town with family. They do not have an agent, so goes with the territory I suppose – no one to open the house up for them. The text I got had no contact information at all for the appraiser so we still don’t have a date with closing looming. Again, I am not too terribly worried about the number they come back with. It ought to be okay. Seller asked $315 we offered $270 – settled at $280. Its 10 acres with a cool old farm house. Needs work, but is built like a tank. It absolutely perfect for what we want. But…getting it done and in the file to the lender’s satisfaction has to be done or this gets pushed off. I would like to think I have a good rapport with the seller and they are set on selling to us, but if this misses the date and they do not agree to extend (if they get a better offer) I might lose it. Anyway…I have been told this is a thing. Appraisers are super busy and hard to schedule. I am in a fairly hot market (San Antonio) and this is just outside of the city, so appraisers would be from there. There’s no excuse for the lender’s rep not communicating with us and ignoring emails, going to voicemail, etc. but they may also be frustrated. submitted by /u/Thunderhorse74 [link] [comments]

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