Recently we had a buyer who didn't listen to us and go with one of our preferred lenders and our preferred attorney... okay her money I get it. So we muddled through with little communication and closed. The appraiser on this deal was local and we've been friends for a long time.
At the time he turned his appraisal the lender started nitpicking and asking for changes. They didn't like photo angles/lighting blah blah blah. The actual day before closing they were asking him to change ONE MORE THING and he had done it, let us know about it and turned it in right away knowing we were on a deadline to close. The lender was still telling us they were "waiting on additional information from appraiser" NOPE, just talked to him, no new requests and he did the last one yesterday 10 minutes after you asked for it.
We did close and it was a nightmare. In fact the buyer had to sign additional documents the next day because they didn't send them all in the closing package emailS. yes Emails, but it seems they sent it over in about two dozen emails little bits and pieces at a time.
Yesterday we got a call from the appraiser asking if we had already closed on that property. We told him, yes in fact we did. He is still getting "but why didn't you use THESE" comps? from the lender. Funny thing is the out of state lender is asking why he didn't use oranges and lemons to compare to the apple that was the subject. The subject home was a fee simple site built home on the lake. They want to know why he didn't use manufactured comps and comps on lease lots. Duh!, because they are NOT comps. Oh and we closed two weeks ago, his appraisal was turned in 4 weeks ago and he still hasn't be paid.
Next time a buyer says they are going to be getting their mortgage from XYZ on line out of state lender I'm going to tell them to hit the highway. I don't want to deal with the crazies again. Oh and another thing Mr. and Mrs. Buyer, I get to see your HUD statement and trust me, you did NOT save any money.
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Tammy Lankford, Broker/Owner
Broker License # 169695 Lane Realty License # H-11420
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