Derailed by Appraiser!

[Anonymous]

Really concerned and not sure what to do - the appraiser found some minor items that needed to be fixed but is refusing to be specific about the exact repairs. Now the seller is concerned because this could go on forever and wants us to sign a document saying we will pay whatever the repairs cost whether we close or not. That’s fine the ultimate goal is our house. We’re supposed to close on the 5th, mortgage conditionally approved - I just need to provide proof of our SSNs - now I’m not sure what’s going to happen? Has anyone ever lost their house due to an appraiser??
I’m at a loss for what we can do at this point

[JVille]

Your lender will give you the specific details of what the appraisal is requiring. That’s the lenders job. Is this an FHA loan or ?? Sit tight!

[homeloanexpert]

An Appraiser issues their report either in an "As Is" condition or "Subject to" repairs which are then listed out on the report in an Addendum. There is no ambiguity. If there are repairs needed, it's the responsibility of the Appraiser to spell them out or the Lender can contact the Appraisal Management Company (who the Appraiser works for) and issue a compliant. Under the current regulations, the Appraiser must comply. Let the Lender work on this, but certainly tell them your concerns. As you know daylight is burning.

Best of luck to you!

[Anonymous]

Thanks everyone so much, putting my mind more at ease. A quick question on re-inspection: do they do a full review of the entire house again or just the specific items they noted?

[JVille]

They sign off on just the items required. Item by item as needed.

[CreditInspired]

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@Anonymous wrote:
Really concerned and not sure what to do - the appraiser found some minor items that needed to be fixed but is refusing to be specific about the exact repairs. Now the seller is concerned because this could go on forever and wants us to sign a document saying we will pay whatever the repairs cost whether we close or not. That’s fine the ultimate goal is our house. We’re supposed to close on the 5th, mortgage conditionally approved - I just need to provide proof of our SSNs - now I’m not sure what’s going to happen? Has anyone ever lost their house due to an appraiser??
I’m at a loss for what we can do at this point

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Absolutely, unequivocally not!

[Anonymous]

Turns out the repairs will only be $750 - so once we get the reinspection, we're ready to close!