Appraisal Desk Top Review

[Ray2000]

No News

Desk review ordered Feb 5th and still no news. This has taken longer than original appraisal. LO says he has no idea what the issue is and keeps reiterating that the bank has no control over it. Of course I understand this b/c its a 3rd party, but aren't inquires regarding delays allowed? Would calling a supervisor be useful or do I just need to relax?

 

[J Grant]

Could be the desk review showed deficiencies in appraisal and they ordered a second appraisal or field review or waiting for comments from original appraiser (or they are slow to get back to you).

 

[hastalavista]

It isn't so much "relax" as it is "you are not in control" on this one.

There are a number of reasons why the desk review could take longer than the actual appraisal. The obvious one is there may be some items the review discovered which need to be addressed in the original appraisal; now, don't get concerned over that at this point. Many such items are disappear with additional clarification. It doesn't mean the original appraisal had a problem... it may just mean that there was an information-gap between the review appraisal and the original appraisal.

You can try to ask for a supervisor, but it will probably do you no good. My advice: sit tight. Your loan agent is almost as vested in this as you are (her/his compensation is dependent on loans closing); he/she will work the system appropriately to ensure that the process is moving along.

Good luck!