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Transfer Appraisal

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Anonymous
Not applicable

Transfer Appraisal

My loan  didn't close due to HOA not haivng Budget Reserves.  I have a new Lender who has no problem with the HOA not having Reserves. And I have a better deal with new Lender.  The new Lender sent me an Appraisal Transfer Letter to give to Chase.   Is Chase known to transfer Appraisal?   Also, I am hoping the Seller ( REO Property) grant me an extention since I have a new Lender.   If they don't I still get all of my earnest money back because the loan didn't close due to the issue with HOA.  

Message 1 of 9
8 REPLIES 8
frugalQ
Valued Contributor

Re: Transfer Appraisal

sounds like you are in a good position!  i hope everything works out for you!!!

AmEx Green NPSL | Amex BCP 16K | Citi Simplicity 10k | Discover IT 9K | Chase Slate 7.5K | Amex Hilton HHonors Surpass 7K | Capital One QuickSilver 6K | Home Depot 5k | Chase Freedom 4.5K | LOC 2.5K
Message 2 of 9
ezdriver
Senior Contributor

Re: Transfer Appraisal

You paid for the appraisal right? If yes, then I see no reason why Chase would refuse to release it to the new lender.

Message 3 of 9
Anonymous
Not applicable

Re: Transfer Appraisal

Yes. I have new lender the copy I have.
Message 4 of 9
Anonymous
Not applicable

Re: Transfer Appraisal

I gave new lender a copy of what I have.
Message 5 of 9
Anonymous
Not applicable

Re: Transfer Appraisal

Chase do not transfer or accept appraisals.    Which is no problem as long as they give me my money back..   Now that I have found a new Lender who can close my loan, I am now worried about the Seller not agreeing to an extension to give my new Lender time to close the loan.  I sent the Seller a letter explaining the situation although the listing agent know what's going on, so I hope they understand.  This has been a long process for me.    

Message 6 of 9
Revelate
Moderator Emeritus

Re: Transfer Appraisal


@Anonymous wrote:

Chase do not transfer or accept appraisals.    Which is no problem as long as they give me my money back..   Now that I have found a new Lender who can close my loan, I am now worried about the Seller not agreeing to an extension to give my new Lender time to close the loan.  I sent the Seller a letter explaining the situation although the listing agent know what's going on, so I hope they understand.  This has been a long process for me.    


As I understand it Chase won't do that either; and actually that money is already spent and it's in their T&C at least on my loan paperwork.

 

Chase got far enough on this round to do an appraisal as well before I just up and decided to wrap my arms around my employer and hold on tight heh.  So I'm out two appraisal fees, won't be the worst mistake I've ever made financially and that's on me anyway for not really looking at options before simply taking the easy route.  Easy not always better, go figure.




        
Message 7 of 9
Anonymous
Not applicable

Re: Transfer Appraisal


@Revelate wrote:

@Anonymous wrote:

Chase do not transfer or accept appraisals.    Which is no problem as long as they give me my money back..   Now that I have found a new Lender who can close my loan, I am now worried about the Seller not agreeing to an extension to give my new Lender time to close the loan.  I sent the Seller a letter explaining the situation although the listing agent know what's going on, so I hope they understand.  This has been a long process for me.    


As I understand it Chase won't do that either; and actually that money is already spent and it's in their T&C at least on my loan paperwork.

 

Chase got far enough on this round to do an appraisal as well before I just up and decided to wrap my arms around my employer and hold on tight heh.  So I'm out two appraisal fees, won't be the worst mistake I've ever made financially and that's on me anyway for not really looking at options before simply taking the easy route.  Easy not always better, go figure.


I was told I would get the  money back..   I've already sent American Express after them to get its money.   

Message 8 of 9
Anonymous
Not applicable

Re: Transfer Appraisal

Got my money back from Chase for the appraisal.  Fortunately, I used my AMEX card to pay for the appraisal.   Depending  on what the Executive office tell me regarding my complaint, I may take things a step further since they ruined my credit for conditioning me to close 3 credit cards, and liquidate brokerage account.   

 

 

Message 9 of 9
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