Appraisal not accepted

This is a discussion on Appraisal not accepted within the Mortgages, Refinancing, Foreclosure forum, part of the Buying & Selling Property category; We were set to close on the 18th of April (or so we thought). On the 9th the underwriters declared ...

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Old Apr 14th, 2008, 01:33 PM   #1
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Default Appraisal not accepted

We were set to close on the 18th of April (or so we thought). On the 9th the underwriters declared our appraisal unacceptable. They used the appraiser they chose - it was an FHA loan and he was an FHA approved appraiser. Any chance of recovering the lost $$ for appraisal? Also the company had contacted the lawyer already (thus the closing date) and they have already done a title search. Am I going to be held financially responsible for that?
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Old Apr 15th, 2008, 12:29 PM   #2
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Default Re: Appraisal not accepted

You could hold them liable for the costs if the first appraisal was accepted by them or they implied it would be.

But unless they somehow agreed to it previously, it would be hard to force them to accept it and/or to sue for any damages.
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