You definitely need an extension.
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Where is your agent? You absolutely have to communicate this to your agent and she should be able to give you advice.
I have to agree with my colleague below as of why the appraisal has to be ordered within 15 days and why contact the sellers agent. Ask for extension.
Susie Kay, RealtorÂ®
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United Real Estate
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I agree with the other agents that requiring the appraisal to be done in 15 days is not the norm. I'm guessing that the request for the appraisal was written in "Special Provisions." I'm just curious as to why it was written that way. Are you working with an agent? Or is the listing agent acting as an intermediary with you and the seller? You should request from your agent an extension.
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Tamika A. Goree
Broker | Owner
The DFW Property Shop
More information is needed......15 days is somewhat understandable for a loan approval period, however not an appraisal. An extension is needed. The holiday lag should have been considered before the time period was established.
Appraisals are ordered through third party companies and sometimes lenders do not have control as to when they actually take place. while it usually does not take very long once an order is placed a holiday can definitely delay things.
Definitely see about getting that requirement extended and honestly ask your agent why that was put into the contract and why it was agreed to in the first place. That is very, very strange.
Hope this helps.
Don Groff | REALTORÂ® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
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