Appraisal to delay closing

Guest 0.10 Dollars($)

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?

gmakerley · Posted: Wed Mar 26, 2008 11:14 am Post subject:

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.

larry · Joined: 27 Jun 2007 Posts: 2911 403.68 Dollars($)

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

jbarto65 · Joined: 04 Nov 2007 Posts: 592 5.03 Dollars($)

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.

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