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Updated about 7 years ago, 12/07/2017

User Stats

114
Posts
18
Votes
Kathryn Bowden
  • Flipper/Rehabber
  • Tucson, AZ
18
Votes |
114
Posts

Help, Appraisal wasn't ordered - what do we do now?

Kathryn Bowden
  • Flipper/Rehabber
  • Tucson, AZ
Posted

I really need suggestions, as I have never dealt with something like this before.  Appraisals in our county generally take over a month once scheduled.  Therefore, most escrow times here are set for about 60 days.  We are under contract for the house we are selling.  All repairs, etc., were done and signed off on and closing date is 12/15th.  We've been sitting waiting for weeks for the appraisal.  Come to find out on Monday that none was ever ordered by the buyer's side.  There was some confusion by the buyers on ordering it, which I clearly chalk up to a major realtor dropped-ball.  Their realtor left it to buyers to order, and they didn't understand the importance of getting it ordered immediately.  I asked for an expedited appraisal, which they are apparently "working towards".  But still hinting that the closing date would have to be in January.

This causes a hardship for us.  First, it's well over $100 for every month in holding costs.  Second, we needed that income to be in 2017 and were counting on it.  Granted, we knew something could happen to push it into 2018 possibly, but we didn't expect a realtor flub-up.  We also have unpaid bills racking up interest charges.

I am getting the idea that we just need to lump it.  I also have zero experience with an expedited appraisal, and surely this means that should be very soon???  Is it fair for us to pay the entire downside for this with just an "oops".  What do people do in a situation like this to make it right.  I don't expect it to be a lot, I just feel there should be an effort made by the realtors.  For example, we haven't yet done a bug treatment for $250 that we were holding off on until the appraiser had come and gone.  Would it be a lot to ask for them to kick in half now for that item?  Am I just overreacting due to our own financial pressures?  We worked hard and in good faith to do everything expected of us on our side.  Feedback and insight would be greatly appreciated.  We don't want to kill the deal, but feel like we're getting the short end of the stick.

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