OMG. House stuff.

[studytime45]

That is super annoying, Tamb, yuck.

I don't know anything about lenders and homebuying etc... but that would piss me off. April?! Get a fucking move on, people!!

[pantsparty]

WTF? I know with our place, the house has to be 95% done before they can appraise. The bank won't even consider it before that point.

I'm sorry, that sounds really frustrating

[eddy]

That sucks

Appraisals fucking suck. Just be prepared for more drama. If it doesn't happen then good.

We have had to argue for second opinions on appraisals several times. It really sucks, but we always got to the place we wanted to be. Our problem the last time was that we were buying in the summer but they were using winter sales as comps. Well prices rise dramatically in the summer because that is when most housing moves. With some pushing we got them to use comps that were more appropriate.

[pantsparty]

Also, the builder stopped it and didn't tell you? RAGE. 

[natsnow]

That is super annoying. We just closed on our house a couple days ago and I thought we might not hit our scheduled closing date either. It was down to hours. But you're probably right - I would contact your landlord as soon as possible because your file will have to go back to underwriting after the appraisal (I think?) and for us it took a week after that.

[lightbulbsun]

That sucks Our house was already built, but we had a ton of issues with the seller and our closing date was pushed back 3 months. It was so frustrating. I hope they finish soon!

[pantsparty]

I am surprised you could order the appraisal, actually. I would check with your realtor. I know we're basically powerless when it comes to when it will be appraised, we just have to to wait, as it's the builder's call.

Sorry, it sucks having to wait!

[Kit]

Ugh that is so frustrating. The entire home-buying process is annoying, but I imaging it is especially annoying on new homes that aren't quite complete yet.

I hope it all works out for you guys!

[pantsparty]

May 17, 2013 11:34:59 GMT -5 @tambcat said:

May 17, 2013 11:32:25 GMT -5 pantsparty said:

I am surprised you could order the appraisal, actually. I would check with your realtor. I know we're basically powerless when it comes to when it will be appraised, we just have to to wait, as it's the builder's call.

Sorry, it sucks having to wait!

I don't know, the bank never said anything about that. It sounded like they were just going to look at the plans and figure out out that way. Are you doing FHA?

We are doing conventional. But I don't know if that makes a difference - a bank can't loan on a structure that's not completed. They could look at the plans, but what if they use different materials, change the layout, etc?

[tulip]

Why would the builder stop this? Is the house not 95 percent complete yet? If not they need to get a fing move on.

[firedancer49]

If the house is not done they may have had to go back and second time anyways. I know in our house they were building an additional bathroom which was 95% done for the first appraisal but they had to go again when it was 100%

[eav2c]

I understand and I'm sorry. We moved in months after our close date. Call the project manager and see what he has to say. As far as I know they don't need the house complete for the appraisal. My house didn't even so much as have flooring in when they did it (I don't know if they went back after completion).I'd let the project manager know you have a LL relying on you, a one year old, and no place to go. As soon as I did that we were in 10 days later, lol!

[tripleshot]

When we built last year we had the appraisal before thy even broke ground for our construction loan. Maybe it's because we owned the land and it was a custom build? But they just used the blue prints and plans with the types of finishes listed.

[julez]

That is so freaking annoying. I'm sorry.

[stephlove]

Fingers crossed that it happens Monday and all goes well! Closing on a house is so stressful, I give everyone props for doing it on a new build.

[TrickyBob]

I hope it does happen Monday!

[Deleted]

I don't know a single person that made their original closing date. It's ok! It'll get done.

[Deleted]

May 17, 2013 14:06:20 GMT -5 @tambcat said:

May 17, 2013 14:04:57 GMT -5 @stellasmom said:

I don't know a single person that made their original closing date. It's ok! It'll get done.

But this isn't even our original closing date! We even pushed it back further than they thought they'd need to make sure it was done on time.

For perspective, we bailed on the house we were building when it was barely framed out at the time of the original closing date!

There is so much stuff that needs to fall into place from so many parties, significant delays are totally par for the course. You'll be in by the end of the month for sure.

[snickers]

Ugh, that would be super annoying. I hope it does work out!

[starlily]

May 17, 2013 11:32:25 GMT -5 pantsparty said:

I am surprised you could order the appraisal, actually. I would check with your realtor. I know we're basically powerless when it comes to when it will be appraised, we just have to to wait, as it's the builder's call.

Sorry, it sucks having to wait!

Same here. The lender ordered the appraisal. It was done last Monday; we are expecting to close around June 5. The house was about 90% complete at the time of appraisal. Still needed flooring, some finishes, landscaping, etc.

As far as the appraisal itself, it came back a little higher than our purchase price - around 2k more. I thought it would be higher given current pending sales prices, but I guess they couldn't consider those yet. Ultimately though it's fine for financing purposes.