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Updated over 6 years ago on . Most recent reply
Multifamily appraisal....what the $&?#
Hello all! 3 weeks ago my lender told me my appraisal was ordered. Since that time my loan was presented to a loan committee for approval which I did receive! Still after 3 weeks no appraisal!!!! I’ve got contractors on stand by, insurance company waiting, property manager waiting and rates keep inching up!!! What the heck should I do? I contact the bank every couple of days and feel like I’m getting nowhere. Does this sound typical? My first ever commercial loan.
Most Popular Reply
It’s a 20 unit property in a small town outside of Tulsa, Oklahoma. Excited that Google has a data center there that’s going through a 600+ million dollar expansion. Vacancy rates are low and rents are fairly high considering the size of the town.