Appraisal 🙋‍♂️

[Peruthopaniemundhi]

For reappraisal on recent purchased home, if the house did not appraise at the contract price that builder set, what would we do ?

the reason it is not appraised is because Builder has not listed the houses on MLS so the appraiser does not have any information on there to go on. 

so my question is where do we find the info about recent closings? Probably for  October 2021?

[yemdoing]

2 minutes ago, Peruthopaniemundhi said:

For reappraisal on recent purchased home, if the house did not appraise at the contract price that builder set, what would we do ?

the reason it is not appraised is because Builder has not listed the houses on MLS so the appraiser does not have any information on there to go on. 

so my question is where do we find the info about recent closings? Probably for  October 2021?

builder did not provide lender info ?

[Peruthopaniemundhi]

Just now, yemdoing said:

builder did not provide lender

builder is withholding recent closings in my guess too persuade buyers to use builders mortgage.
 

MLS affected this by lack of access to recent closings. Only 10 houses have been reported to MLS and the most recent was July. The appraiser had to use contract prices from February of this year.

[Peruthopaniemundhi]

6 minutes ago, yemdoing said:

builder did not provide lender info ?

builder is withholding recent closings in my guess too persuade buyers to use builders mortgage. 
 

MLS affected this by lack of access to recent closings. Only 10 houses have been reported to MLS and the most recent was July. The appraiser had to use contract prices from February of this year.

[pandemkodi]

Usual ha itey pay the diff from hand if it is less or backout or ask builder to decrease the price by showing appraisal.

[Mandalorian]

30 minutes ago, Peruthopaniemundhi said:

For reappraisal on recent purchased home, if the house did not appraise at the contract price that builder set, what would we do ?

the reason it is not appraised is because Builder has not listed the houses on MLS so the appraiser does not have any information on there to go on. 

so my question is where do we find the info about recent closings? Probably for  October 2021?

deed is public record, even if builder doesn't list home on MLS deed need to be registered with local county/township.

if you have recent sold home address search and look for property deeds on county website, you can call them or visit and get the info, get that deed copy and throw on face of appraiser its public record and he has to consider the sale price these guys are creepy and remember never approach appraiser direct, communicate thru lender it helps

[yemdoing]

32 minutes ago, Peruthopaniemundhi said:

 

builder is withholding recent closings in my guess too persuade buyers to use builders mortgage. 
 

MLS affected this by lack of access to recent closings. Only 10 houses have been reported to MLS and the most recent was July. The appraiser had to use contract prices from February of this year.

yeah it's normal ani vinna... builders would give tough time if you use other lender.

so with them and refinance with better lender ani oka lender tolded.

[Peruthopaniemundhi]

52 minutes ago, Mandalorian said:

deed is public record, even if builder doesn't list home on MLS deed need to be registered with local county/township.

if you have recent sold home address search and look for property deeds on county website, you can call them or visit and get the info, get that deed copy and throw on face of appraiser its public record and he has to consider the sale price these guys are creepy and remember never approach appraiser direct, communicate thru lender it helps

Thank you 

[Peruthopaniemundhi]

10 hours ago, Mandalorian said:

deed is public record, even if builder doesn't list home on MLS deed need to be registered with local county/township.

if you have recent sold home address search and look for property deeds on county website, you can call them or visit and get the info, get that deed copy and throw on face of appraiser its public record and he has to consider the sale price these guys are creepy and remember never approach appraiser direct, communicate thru lender it helps

Thank you. Will search for it. 

[phatposts]

Appraisers use publicly sold info as comparable info. That sale information usually does not get publicized completely for 60 days at times. 

New house builder strategy ento naaku telidu,. but ila jarigite bank will say come up with the difference or they will give higher loan % making your equity % lower. 

 

 

[Peruthopaniemundhi]

1 hour ago, phatposts said:

Appraisers use publicly sold info as comparable info. That sale information usually does not get publicized completely for 60 days at times. 

New house builder strategy ento naaku telidu,. but ila jarigite bank will say come up with the difference or they will give higher loan % making your equity % lower. 

 

 

I think this is more than 60 days, in this case it is 6 months.