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re: Update --- Mortgage underwriter doesn't agree with appraisal
Posted on 6/4/16 at 4:07 pm to DieSmilen
Posted on 6/4/16 at 4:07 pm to DieSmilen
New appraisal makes more sense. Your buyer appears to have a turd clogging the pipes on his financing end. Whether it's in the form of the loan officer, his supervisory or branch management staff, the Underwriter or just the lender they are trying to run the paper through, a delay like this is something I'd be bending over backwards for if I were a Broker or Loan Officer...and if I were you I'd grab a Snickers.
This one mayyyyy be awhile...
This one mayyyyy be awhile...
1
Posted on 6/4/16 at 4:44 pm to GFunk
IF you are in a sellers market my advice is tell buyer to switch lenders or walk away. If you think this buyer is the best you'll get for forseeable future, try to encourage him ($1k off sales price, leave furniture, hand job) to switch lenders but be prepared for a circus should he object. I am guessing you are out of compliance with all timelines regarding the contract so you can come out clean no harm no foul if you return earnest money.
Should you go the walk/switch lender route, I'd call and get this guy's NMLS number and file a report detailing their behavior. From your side of the story its definitely worth noting. All this over one comp from last year seems retarded, but again, I don't know your market.
Good Luck
Should you go the walk/switch lender route, I'd call and get this guy's NMLS number and file a report detailing their behavior. From your side of the story its definitely worth noting. All this over one comp from last year seems retarded, but again, I don't know your market.
Good Luck
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