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Building a Home

Final Appraisal 3 Months AFTER Closing?

16 years ago

We closed on our loan three months ago and at the time, the house wasn't finished. We had tile missing as well as some cabinets, floor transitions not in place and some stone work left to be done. That's the big stuff our punch list is huge. We received our final appraisal which was $100k more than the loan and we closed on the house. I was surprised that we were able to close with the house not being totally finished. After closing, surprise-surprise, our builder only came back a few times and then wouldn't return our phone calls. We are finishing the house ourselves, even though the builder has all the funds from the construction loan.

Anyway, this morning an appraiser shows up with no notice and says that the mortgage company sent him out for the final appraisal and to see if the house was finished. The appraiser gave DH the name of our mortgage broker's assistant and said we needed to contact her. DH sent the guy on his way without doing the appraisal and in the meantime I call our mortgage broker. MB says he has no idea what is going on and that he needs to call his assistant.

What the heck? When you close and start paying your mortgage, that's it right?

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Comments (3)

lyfia
16 years ago
I've never heard of that, but I guess it could be somewhere in your loan paperwork.

Speaking of appraisals I just requested a copy of ours last week after kelntx post jogged my memory to do so. It kept saying we have 2205 sq ft and I'm going no it is 2306. He must have just messed up the numbers. Keep going in the document and there is a floorplan of a house. However it is not our floorplan. Similar, but not the same and it is 2205 sq ft.
kellyeng
Original Author
16 years ago
Well it turns out that "someone" "misplaced" the "certificate of completion" that the appraiser issues. So he needed to come back to reappraise in order to reissue the CofO. We said no we are not going to allow an appraiser on our property. If he wants to do another appraisal he can do it from the street. So instead, the MB asked me to take some pictures of the back of the house and that should suffice.

I just can't believe that this appraiser would just show up and start walking around our property without permission. The guy was actually going to walk into our garage without even coming to the front door first.

Anyway, crisis over.
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totallyblessed
16 years ago
kelly~

Glad you got this all figured out. And good of you to not let the guy in from off the street. You never know what kind of wacko's could "invent" a story like that.

The fact that it was a legitimate appraiser is a bit of a relief (I was thinking it was a NUT case!!). I'm glad your bank is willing to let you send photos of the rear and let it be done. :O)

By the way, I think your builder is a bum. After taking so long to build your (GORGEOUS, COMPLETELY GORGEOUS!!) home, and you being patient and waiting and all of that... well, I'm just irritated that he's fallen off the face of the earth. Too bad you can't recommend him now. GW is a big community, and he might have gotten more work from referrals by miss Kelly. Not likely now. Why would someone want to do that at the end of a relationship? Why not leave a happy customer..... referrals are the way of the world for most businesses. I guess he missed that fact in building 101. :o(

Anyway, glad you and dh are able to fix the remaining items on the punch list. It looks soooo awesome already, it's probably okay if it takes you a bit of time to whittle down that list. :o)

Merry Christmas to you and yours... in your gorgeous new home!

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