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Condo appraisals
How long should it take for a seller to be aware of appraisal results? We are in the midst of selling our condo. Appraiser was out over 3 weeks ago and mentioned that she had a 2 day turnaround when I queried her.
Our agent has washed her hands of this and referred us to our attorney. He just mentioned that he had not heard anything back on the issue from the buyers attorney.
so, we continue to wait. We live in a 40 story highrise but in a one bed plus den unit. Most recent comps in our building were either one or two bedrooms, so establishing exact comps has been challenging. We listed at a price recommended by our agent (it was 20 to 40k higher than that suggested by other agents) and went under contract very close to asking price.
if there is an issue with the appraisal, we want to know sooner rather than later.
Re: Condo appraisals
I was under the impression that by law, the appraisor has a certain amount of time that they need to give the results. I could be wrong though. When we bought our house, we had the results within a few days (I think) - it was definitely no more than a week. This was for a house too, not a condo, but I imagine the process would be similar/the same, no?
What has your REA done to follow-up with the other agent involved? Why is she washing her hands of this? SO unprofessional, IMO - so she's frustrated too and she thinks it okay to just tell you guys to go seek help elsewhere?
Our REA for the sale is simply awful. There's no other way to say it. Now that we have a signed contract, she refers us to our attorney for everything, and won't give us the time of day. Actually, after we reached agreement on price with the buyers, she went off on a trip to china and pawned us off to her assistant (who started the day before). Shortly after returning from her two week trip, she fired her assistant!
it is frustrating because we bought in tandem (another agent, completely different town), and our buyers agent was amazing.
At this point, we just want to ensure where the appraisal came in at, and then will do everything else with our lawyer.