All Forum Posts by: Desilva Pllus

Thanks Mike for the response,

Bank know about my funds and other minor funds like stocks in same bank saved for rainy days. 

i have strong credentials and funds too as per them and hence they agreed for 10% down, but  can bank force to put more down as they know all numbers? I really like the house and they know it.

With time lost in process of approval due to appraisal contingency; I see such happening in decision making by underwriter. 

what options do I have other than to loose this house ? working with other lender seem too late in game; and as day progressing i see bank slowing creeping me to put 20% + extra appraisal with the same high rate of 10% (4.07) rather than 20% (3.64%).

we started negotiating 5k more than listing price (LP) and with number swinging agreed to buy the house with 30k more than listing price.  We went in contract with 10 days of appraisal contingency.  First two days were delayed due to national holiday. But this process was delayed MORE with listing agent not providing time so appraiser can arrive and inspect. The listing agent later provided a date to inspect on second last day before the appraisal contingency date mentioned on contract, beside the lender logged status too that listing agent wasn't present on day of appraisal on the property. Is this MUST for the process ?? 

The process was rush by appraiser and the value of sale was goofed up and appraiser to value came to LP+5K low than sales.  the bank has re scheduled appraisal with another appraiser.  

The date of appraisal contingency is past away and all people in process are in relax state, but i am nervous. is this NORMAL ? i dont know what is in store in next appraisal. my review file for loan is clear, but its making me nervous as i lost time and might be hostage to process of banks to lock in different down payment as i have some extra  funds in account. 

whose to be made accountable ? soon i might have to release contingency ... can i hold back with appraisal contingency ? please respond and time is tolling on me.