Asked by Red_as_copper, Butte, MT • Mon Dec 27, 2010
I've been under contract since Sept. 1 on a house which was part of an estate. It was transferred into the name of the exeutrix some months ago. I paid $550 for an appraisal on Nov. 8, at which time the executrix was the owner in public record. The bank just called today - we are now supposed to close by Dec. 31 - to say I need to pay for another appraisal because the property title had been transferred. They said it is FHA's rule. They said it is not that my appraisal was bad (they chose the appraiser and ordered the appraisal) but that FHA just requires this. I'm out of money, time, and patience. This is an FHA 203k Streamline and I've already had to fix some things that came up on the other apppraisal out of my own pocket. The seller had to put in a whole new septic system at a cost of over $7k. If I back out now, will I have to pay origination fees listed on my good faith estimate? Can they make me pay for another appraisal?
Real Estate in Butte
Popular Categories in 59701
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!