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dlm2000

Quick question - anyone around?

DLM2000-GW
9 years ago

I was told the appraisal is among the last things to be done before closing. Our closing is set for 11/15 but I was just asked if the appraiser could come by today. Is this a good thing? bad thing? doesn't mean anything thing?

The inspection was done yesterday, neither realtor is anticipating anything substantial (famous last words) but we'll find out by Monday, they are waiving a radon test and due to the holiday, attorney approval continues until Monday. So this appraisal seems somewhat early, no? When my realtor called to set the appointment, she said it's very unusual but is taking it as a sign of how much they want the house and how they are pushing to get things done. Because there is a contingency on their sale and we are still showing till after they close 10/10, maybe they want as much done as possible so we don't use the kick out? They know there are showings scheduled despite being under contract and one party considering a bid. Thoughts? Anything I need to do in the hour I have before the appraiser gets here, LOL!!!

Comments (13)

  • SaltiDawg
    9 years ago

    I've seen the full gambit of Appraisal dates - from early to late.

    As either a Buyer OR Seller I would prefer it be done early... if there is any problem, I see no situation where it would be better to learn about it later rather than earlier.

    Good luck!

  • DLM2000-GW
    Original Author
    9 years ago

    Good point - I hadn't even considered there might be a problem with the appraisal - am I an optimist or what!

  • SaltiDawg
    9 years ago

    Also, I'd want the Buyer's Inspection done earlier rather than later for the same reason... indeed, as seller I have included in the Purchase Offer/Agreement the requirement that the inspection be completed within X days...

  • kirkhall
    9 years ago

    You don't need to do anything for the appraiser. They'll be taking pictures, etc, but if you've been showing your house, it will be fine!

  • DLM2000-GW
    Original Author
    9 years ago

    Well he just left, had a nice chat while he had a cup of coffee ( I was making mine anyway and he accepted), did his laser measurements, took pictures and took notes on updates, etc. I told him we are curious about sq footage because tax assessor has one number, realtor has another, old appraisal for refi had another.... and he said he'd call me after he does the report with a number - nice guy. Fingers crossed we don't have an issue with the sales price.

  • littlebug5
    9 years ago

    What holiday?

  • SaltiDawg
    9 years ago

    My wife turned 71 on Monday.

  • DLM2000-GW
    Original Author
    9 years ago

    Rosh Hashana. Schools and many businesses are closed here for the high holidays.

    Wish her happy birthday from me saltidawg :-)

  • littlebug5
    9 years ago

    Forgive my ignorance, and the hijack of the thread, but I am curious as to where you are located that "schools and many businesses are closed for Rosh Hashanah." (Which I had to look up on Wikipedia.)

  • DLM2000-GW
    Original Author
    9 years ago

    littlebug I'm in a northern Chicago suburb. Our school district closes, the one directly west of us closes but the ones directly north and south do not, although they do lose a significant percentage of their teaching staff and student body for the holidays. Many people don't live in an area with a large Jewish population or have contact with someone who celebrates so it doesn't surprise me that it's not on your radar - don't worry about it - if you don't ask questions you don't learn!

  • littlebug5
    9 years ago

    Thanks dlm for your thoughtful reply. Obviously I am very unfamiliar with the Jewish faith.

    Backing out of your thread now - carry on. :)

  • ncrealestateguy
    9 years ago

    dlm... first, congrats on the new offer.
    Sometimes if I think my buyers contract price is close to what I think the appraised price will be, I demand that the lender sends out the appraiser ASAP. This way if a low appraisal causes the deal to fall apart, my buyer will not waste funds on inspections, preparing to move, attorney's fees, surveys and whatever other due diligence that would need to be done.
    I would welcome a fast appraisal.

  • ryseryse_2004
    9 years ago

    OMG, our buyers (well nothing is signed yet) are getting an appraisal before they even give us an offer. The appraisal costs $400. Who does that:?