http://athensgaproperties.com/2009/06/22/appraisal-nightmare-anyone/ Athens Homes Blog; Own your home with Confidence - Search Athens area Real Estate Listings Sat, 23 Apr 2011 13:23:46 +0000 hourly 1 http://wordpress.com/ http://athensgaproperties.com/2009/06/22/appraisal-nightmare-anyone/#comment-808 Sat, 27 Jun 2009 13:20:38 +0000 http://athensproperties.wordpress.com/?p=1977#comment-808 Jill, I feel your pain! Thank you for your comments.

]]> http://athensgaproperties.com/2009/06/22/appraisal-nightmare-anyone/#comment-807 Sat, 27 Jun 2009 10:53:47 +0000 http://athensproperties.wordpress.com/?p=1977#comment-807 Hank,
this amc thing in and of itself is proving problematic in our area. even with a good appraisal, delays and gun-shy underwriters are becoming the norm. I have a deal that was scheduled to close on June 5th. An AMC appraisal was ordered with a rush on it May 20th and the report was received on June 4th! The number was good, but the underwriters couldn’t turn it around in time for the 5th so we pushed it out a week. Come the following week, the underwriters asked for a “field review” of the appraisal. (because of the rural nature of our market, I think the appraiser may have pulled comps that were too far from the subject to satisfy this underwriter.) The local rep of the lender thought that should take yet another week, so we pushed it out again. As that Friday approached, we learned that field reviews can take up to 15 days, and nobody can tell me when that 15-day clock actually started ticking. My seller is reluctant to sign extensions for more than a week at a time because he believes the underwriters will take every minute they are given in writing, so we have been filling the file with addenda extending the closing date a week at a time.
And here we sit, hopeful that we can make it happen this coming Friday, with nothing concrete to indicate that, and no real closing date in sight.

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