Updated over 5 years ago on . Most recent reply
Trouble Getting Appraisal
Does anyone have any experience with excessively delayed appraisals? I am selling a home off market (no realtors as I know the buyer) and we signed the P&S at the beginning of September. The buyer's lender was asking for 30-40 days to close and we were set to close 10/16. Last week I received word from the buyer that the appraisal was pushed 6 weeks, but have no received confirmation of that or an updated P&S with closing date addendum. The property is located in the Lincoln, NH area. Any thoughts?
Most Popular Reply
I think the technical market term up here in NH is 'f-ing bananas', seriously! Lenders and appraisers have been more than inundated with this massive influx of buyers and Refi's. Unfortunately even if you find the lender an alternative appraiser, they are only allowed to pick from their pre-determined list, as opposed to one you provide for them. Certainly speak to the buyer's lender if you can and try some if the strategies mentioned above, if your P+S allows you to do so...... this is a highly irregular scenario we're seeing, even waaaayyyyyy up in Berlin!!