Posts Tagged "47-72"

Cool Chateau images

on Oct 10, 2012 in Real Estate News | Comments Off on Cool Chateau images

A handful of good chateau photos I discovered: Cha?teau de Fontenay à Lignières (Indre-et-Loire) Image by sybarite48 Château de Fontenay, ed entre Saumur et Tours. More great homes click here… Cool Chateau...

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How long does an FHA appraisal take?

on Oct 10, 2012 in FHA Information | Comments Off on How long does an FHA appraisal take?

by Editor B Question by madynlaneylou: How long does an FHA appraisal take? We’ve been waiting now on the appraisal for about 2 weeks, pills and everytime we call the lender she says she hasn’t heard anything yet. What could be taking so long? I know with FHA loans they are a lot more detailed, but what if they find something that needs to be fixed? Do they contact the seller to fix it or do they notify the bank that the appraisal was not good? Thanks! Best answer: Answer by cactusgeneThis all depends on the individual appraiser to whom the appraisal assignment is given to. With appraisal management companies getting most of the work, they generally push for a 2-3 working day turn-around. However, it should not take longer than a week for a single family home. Update: I just read your question again and notice that I have not answered it completely. But here we go. If you already waited 2 weeks since the appraisal inspection that’s an awful long time in today’s market environment. You have the right to contact the bank or lender and inquire about the status of the loan. Tell them the appraiser told you it should be ready in about a week. No, the appraiser will not contact you to fix any deficiencies noted. They will be listed on the appraisal and are known as conditions to the appraised value. It is then up to the bank underwriter to waive these appraisal conditions or ask the seller to fix the deficiencies before the loan will be funded. In rare cases the amount to fix can be withheld in escrow and the loan can close, but I don’t know if HUD rules allow this for FHA loans. Good luck. What do you think? Answer below! How long does an FHA appraisal...

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