I'm buying a new construction and the lender did an appraisal about a week ago, but the house was not 100% complete (floors were not in place). The lender just emailed me saying he ordered another appraisal now that the house is finished.

Is this normal? The first appraisal was $400, which I have a copy of (it's 20 or 30 pages) and they have a market value. The lender said this one would be $175

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Posted by lsu2006

Member since Feb 2004

39980 posts

Posted on 3/19/14 at 9:39 am to ZereauxSum

Fire Alleva

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Posted by ZereauxSum

Lot 23E

Member since Nov 2008

10176 posts

Posted on 3/19/14 at 9:40 am to ZereauxSum

Dammit wrong board. Sorry. I RA'd myself.

Admins, move me to the money talk board please...sorry...and thanks.

This post was edited on 3/19/14 at 9:41 am

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Posted by Navytiger74

Member since Oct 2009

50458 posts

Posted on 3/19/14 at 9:46 am to ZereauxSum

(no message)

This post was edited on 3/19/14 at 9:46 am

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Posted by omegaman66

greenwell springs

Member since Oct 2007

22777 posts

Posted on 3/19/14 at 9:47 am to ZereauxSum

To the admins. Please do not move this thread. It is by far the best thread on the rant today. Beats the hell out of all the morons talking nonsense about the LSU qb's!

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Posted by LSU92

New Orleans

Member since Jan 2008

2435 posts

Posted on 3/19/14 at 9:51 am to ZereauxSum

Yes. The first one is considered "subject to" completion. The second is to confirm that completion has taken place. The second one is basically an "as is" appraisal on the final product.

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Posted by ZereauxSum

Lot 23E

Member since Nov 2008

10176 posts

Posted on 3/19/14 at 10:20 am to LSU92

OK that makes sense. Just wanted to make sure they weren't making a mistake