Our Rights From An Appraiser That Is Not Doing Their Job

[D. Mike Fox]

We've had a family emergency to move out and our lender requested a rush on our appraisal. It is now past 14 days and we are headed for a legal battle, scrapped ALL of our moving companies, cleaning companies, etc. because everyone has been waiting on the appraiser for closing. they should be fired or held accountable.

The prop is 68 shore lane, milford, de 19963. thanks.
We need our APPRAISAL to get our clear to close and they have dragged their feet waaaaaaaay too long!!!!!
They simply do not care we are in such hardship right now - all because they are dragging their feet.

We need help.

 

[Meandering]

We've had a family emergency to move out and our lender requested a rush on our appraisal. It is now past 14 days and we are headed for a legal battle, scrapped ALL of our moving companies, cleaning companies, etc. because everyone has been waiting on the appraiser for closing. they should be fired or held accountable.

The prop is 68 shore lane, milford, de 19963. thanks.
We need our APPRAISAL to get our clear to close and they have dragged their feet waaaaaaaay too long!!!!!
They simply do not care we are in such hardship right now - all because they are dragging their feet.

We need help.

Slow down and take a deep breath.

If an appraiser has not yet contacted you,
then an appraiser has not been assigned to you.

Your timing issue is with the lender and they way they chose appraisers, as many do not chose an appraiser but rather chose an Appraisal Management Company, which is not the same as the appraiser.

Using an Appraisal Management Company slows up the entire process as the Appraisal Management Company searches for the appraiser that will accept the lowest fee for doing the appraisal.

.

 

[D. Mike Fox]

Actually, it was already assigned and has been in their hands for this long time. We are all "waiting" on him/her. (as far as my limited understanding goes)

 

[CindyR]

so sorry for your catastrophe. the lender needs to talk to the appraiser and be sure they agreed to a rush appraisal. Could be just a total foul up and everyone thinks someone else ordered the rush appraisal and nobody did.
Most of us do care and understand the impact we can have on peoples lives. I did one a couple weeks ago where i emailed the agent for access and asked if i could do it tomorrow. he said sure and called to tell me the sob story of the cancelled deal and the new deal and all the sad people. so i did it tomorrow and submitted it the next day.

 

[djd09]

This week i met a person in the mortgage industry and she ask why it took so long for the appraisals. I told her to call me and it would be inspected tomorrow. Oh no only can order via AMC.

 

[D. Mike Fox]

Thank you Cindy. the lender said they asked for a rush and it was "rejected." It was ordered on the 11th. I appreciate that you care. I've asked the realtor, the lender and they all say they "cannot" call the appraiser directly. We are in a major setback and now the owner of our home we're in already threatened stuff and shipping stuff on dec. 2nd. my daughter and wife and myself are beyond stressed out and it's already affected my health. And no one seems to know who or how to contact the actual appraiser. today the realtor said they walk on egg shells about it. I just don't get it.

 

[CindyR]

Thank you Cindy. the lender said they asked for a rush and it was "rejected." It was ordered on the 11th. I appreciate that you care. I've asked the realtor, the lender and they all say they "cannot" call the appraiser directly. We are in a major setback and now the owner of our home we're in already threatened stuff and shipping stuff on dec. 2nd. my daughter and wife and myself are beyond stressed out and it's already affected my health. And no one seems to know who or how to contact the actual appraiser. today the realtor said they walk on egg shells about it. I just don't get it.

All sounds a little weird. The appraiser rejected the order or rejected the 'rush' request part? 'rejected' sounds to me like the appraiser is not even working on the appraisal order. but maybe this is some odd AMC company where you can accept the rush request but say you will not rush? And of course the lender can call the appraiser. The lender IS the client. They can't call and pressure the appraiser about value but they can call and ask when you might get around to doing this appraisal. Same with the realtor. If they know who the appraiser is they can certainly call and inquire about the schedule.

 

[ucbruin]

Sounds as if the assignment has not been assigned to or accepted by any appraiser.

As frustrating as this is for you and your family (I don't quite understand your situation)...
I don't understand why you hold a generic "appraiser" responsible.....

 

[Elliott]

Are other houses around you selling and closing? If they are then the problem is more likely your buyer choose a lender who over promised. When you negotiated your contract did you ask anything about who the buyer was going to use as a lender? The lender may have decided to build an appraisal panel based on low fees, rather than service or turn around time. I've been very busy the last year, and my average turn around time is 6.3 days, but I don't work for lenders who are want minimum appraisal fees.

I think your blaming the "appraiser" way too soon. The fault more likely lies with the lender and the AMC.

 

[Michigan CG]

First of all what Appraisal Management Company is your lender using?

====================================================

True story #1:

Two plus months I was called by an AMC for a property. It was a little challenging but not very. I live in the area and comparables would be few. I quoted three weeks and $500. Ten days later they called back asking if I could still perform the appraisal. What did they do for ten days? They shopped for a person who would do it cheaper and faster.

They found another appraiser from out of town. The guy had the order for a few days and then rejected it because he couldn't find any comps.

I agreed to do the report, scheduled it and the AMC sends constant e-mails asking for status updates.

I complete the report.

The report is complete and a week later the borrower calls me and asks about the report as the lender says I have not turned it in. I tell the borrower that the report was submitted a week earlier and that either the lender or the AMC is lying to someone.

The AMC was awful to work for and I will never take another assignment from them. The next time they need someone in my area they will have one less person to call.

I could tell you ten more stories just like this.