Posted on: 26th Mar, 2008 05:22 am
I am about to sell my home but my agent is on vacation and my lawyer's not answering the call. The appraisal is yet to be done and the commitment is just a few days ahead. Can you tell me what will happen if they don't meet the commitment? Does this mean the closing will be delayed?
gary, it seems like you're dealing with inaccessible people. that's never a good thing.
clearly, not having the appraisal will not allow the lender to make a final decision on the loan to your buyers, so the answer to your question is "yes." indeed, the closing will be held up until an appraisal has been completed and reviewed. that doesn't necessarily mean trouble for you, but it surely will delay your plans.
keep working on your agent to find out what's happening.
clearly, not having the appraisal will not allow the lender to make a final decision on the loan to your buyers, so the answer to your question is "yes." indeed, the closing will be held up until an appraisal has been completed and reviewed. that doesn't necessarily mean trouble for you, but it surely will delay your plans.
keep working on your agent to find out what's happening.
Hi Gary,
Welcome to the forum.
If the appraisal has not been done then the closing is going to be late. Just try to finish the appraisal so that the closing is done on time.
Best of luck,
Larry
Welcome to the forum.
If the appraisal has not been done then the closing is going to be late. Just try to finish the appraisal so that the closing is done on time.
Best of luck,
Larry
You will need the appraisal done before the lender will lend to the persons buying it, they need to know what they are lending on, especially if they are putting a lein on, they have to know what they are putting a lein on.