Extended Appraisal Delay
Question: It’s been three weeks and I haven’t heard anything from my appraiser. What are my rights on this matter?
I recently had an appraisal done on my home in Benton Harbor, Michigan. It's been three weeks and I haven't heard anything. What are rights on this matter?
Answer: I understand that due to the large number of loans being refinanced that the appraisers are taking a long time to finish their work. A normal loan closing usually takes less than 30 days, but most now take 45 days or longer. I'm not sure it's a question of legal obligations being followed. But rather, you are bearing the burden of poor service. I would recommend that you have the realtor or the loan office who requested the appraisal give the appraiser a call and ask if their work could not be hurried along.
Attorney: Mark Miller