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Updated over 7 years ago on .

User Stats

249
Posts
140
Votes
Tariq B.
  • Investor
  • Laurel, MD
140
Votes |
249
Posts

Appraiser Not Turning In Report. Missing Closing Date

Tariq B.
  • Investor
  • Laurel, MD
Posted

Hey All,

I had an appraisal done on a 4 unit that was split into two separate buildings. The appraisal was done two weeks ago and twice the appraiser has asked for an extension. We are now a couple days out from closing and still no appraisal. He keeps pushing it off. "Oh I'll have it done today if not tonight then in your email box early tomorrow morning." It's now the afternoon and low and behold no appraisal. His excuses is this is a tough property I'm still trying to find data to represent value. 

I'm pulling my hair out with this guy, we are now 90% sure we are not going to make closing on time, if at all at this point. I have no paid yet. Any of you guys been in this position if so how did it turn out? Did you pay full price? Not at all if the deal goes south? 

Just curious, thanks!