Incomplete renovations a week from closing

[Taylor Reed]

Hello! I am currently in the process of purchasing my first home which will become my first rental property in the next year or two as I save for my next investment. I found this home with a "coming soon" sign out front and my agent inquired about it for me. Turns out it is owned by a local realtor/investor who used it as a rental the past two years and is fixing it up to list on the market.

When I first met the seller to discuss everything, they were working on the foundation and he mentioned the roof would be next. We put the house under contract (contingent on the repairs he planned being done), scheduled inspections, etc.. After the inspection was completed, I drove by and saw the roof being replaced. Soon after, my realtor and I went by to check on the progress of the interior and they had already done the countertops throughout. Thinking everything is going to plan, I waited a couple weeks before going back to check on the progress again. To my surprise, nothing else had been done. The appraisal is scheduled for today and I fear nothing else has been completed since I was out there a week ago. Closing is next Friday.

I imagine appraisers need to see the completed work in order to properly appraise the property for my lender, correct? Or has the foundation/roof repairs maybe given him enough confidence it will appraise high enough? Could he have gotten in over his head and wants the contract to fall through, wasting everyones time? What advice would you give for someone in this situation?