AMC Appraisals and Lima One Capital

[Salvatore Lentini]

Has anyone had problems with Lima One Capital withholding AMC appraisals? My buyer was not able to get approved by Lima because the per unit didn't meet there minimum ($50K per unit on a 6 unit property) even though Lima One knew this info when the buyer applied. Purchase agreement was for $285K on a 6 unit. It appraised for $290K and then Lima One Capital said "Sorry it's under our minimum". Buyer has a new lender that will do the loan but needs the appraisal. Since it's an AMC appraisal that was paid for by the buyer it's theirs. Lender requested it a week ago and Lima One has still not sent it. I can't even imagine why they would do this. Any ideas? Anyone else experience this?