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Recent Appraisal questions

I'm refinancing our home. Due to delays by the appraiser,

I'm refinancing our home. Due to delays by the appraiser, the mortgage lender has made "extensions" on our locked rate as it has been delayed beyond their established deadline. However, the lender has added on 1.5% in points fees to the loan because of the extensions. Is that legal? Isn't that similar to holding your rate hostage unless you pay the ransom of the points fees?

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TJ, Esq.

Juris Doctor (JD)

11,468 satisfied customers
I have a verbal agreement to purchase a house for $300k (the

I have a verbal agreement to purchase a house for $300k (the last appraisal). I have put roughly $50k into it over 6 months. It is an investment house owned by my mother that she wants to sell. We agreed on a price and she evicted tenants (turned out to be hoarders. the house condition hasn't warranted the price) contingent too on the sale of my house with a me paying off her $50k mortgage then monthly payments. Our house hasn't sold yet, so the $50k mortgage cant be paid off yet but we still have put up the remaining $50k in materials and labor to get the house habitable again, in good faith. We have the house listed to rent in the mean time. Mom has since been diagnosed with cancer and family is being hostile towards us, because we have nothing in writing. What do we need to do to get, at the very least, our money back and at best ownership of the property?

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RealEstateAnswer

Juris Doctor

33,180 satisfied customers
I have a contingency on a new build with a estimated closing

I have a contingency on a new build with a estimated closing date of Jan 31st. However the new build date has been delayed, no date given. so I have decided to keep my home and not sell to buyer. Do I have the option to terminate this contract without legal consequences based on contract contingency regarding new build delay?JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: coloradoJA: Has any paperwork been filed?Customer: signed yesJA: Anything else you want the lawyer to know before I connect you?Customer: yes, inspection resolution was agreed upon and then the next day an appraisal date was given not allowing enough time to resolve the long list of issues per inspection.

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Asad Rahman

Attorney

J.D.

4,178 satisfied customers
I bought my house in 2014 and the appraisal showed it 2858

I bought my house in 2014 and the appraisal showed it 2858 square feet and in 2016 when it was appraised by two different appraisers it is less than 2700 square feet because the first appraiser measured wrong. Houses in my area have increased in value but my has decreased because of the square footage. Is there any legal action I can persue?

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MIAMILAW1127

Partner

Juris Doctorate

1,608 satisfied customers
My landlord wants to sell me the house I'm living in but my

My landlord wants to sell me the house I'm living in but my real estate friends tell me he asking too much. He wants 325,000, but it's selling value according to real estate friends is $275,000 max. Will banks even finance an over priced property?

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Phillips Esq.

Attorney

Juris Doctor

20,268 satisfied customers
I own a home with three of my brothers. We are hoping to

I own a home with three of my brothers. We are hoping to trouble shoot any future problems we may have as joint owners (common tenancy I believe?)JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: Washington. The home is in Brier, WAJA: Has any paperwork been filed?Customer: Just the deed no official contractsJA: Anything else you want the lawyer to know before I connect you?Customer: Don't think so Thanks

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,214 satisfied customers
Nevada Property Law: I have a RPA which was signed on 11/19,

Nevada Property Law: I have a RPA which was signed on 11/19, with a a 30 day loan contingency. Due to the appraisal, the purchase price was renegotiated and we signed an amendment on 12/09. On 1/6 my lender is seeking an extension. The seller's agent is suggesting that seller may not approve the extension and that I will lose my EMD since more than 30 days have elapsed. My argument is that the amendment with the new purchase price, extends the loan contingency to 30 days from the amendment, or 1/09. Am I correct? Or am I hosed?

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Barrister

Attorney/Landlord/Realtor

Doctoral Degree

50,214 satisfied customers
If you buy a property at a county tax sale, can the original

If you buy a property at a county tax sale, can the original owner who has the right of redemption sign a quit claim deed over to a third party and that third party sell the property and then pay you - as the tax sale buyer - from the proceeds of that sale before the redemption period expires, and is it legal to do a real estate closing with the third party buyer (bypassing the original owner with the right of redemption) at the closing? I am the tax sale buyer and have been told that a third party had the owner sign a quit claim deed on a promise of helping her improve her credit score ( no money to her and they have sold the property, had a closing without me, and sent me a check without the original owner ever redeeming it from me.) Is this legal?JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: Georgia, RomeJA: Has any paperwork been filed?Customer: The closing took place on the 29th, while I was out of state, and I was express mailed a personal check from the buyer for the amount of money I paid plus 30% mandated fee. I doubt any paper work has been filed at the court house yet, because at this point I have not yet signed the quit claim deed they are insisting I sign. I have refused to sign anything at this point, and the attorney's office has sent me an email stating that if I do not sign the email I could be in legal trouble. This doesn't sound right to me. I thought only the original owner had the right of redemption and to pay me before she could do anything with the property.JA: Anything else you want the lawyer to know before I connect you?Customer: No, thanks.

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Ray

Lawyer

Doctoral Degree

39,136 satisfied customers
Can a mortgage loan originator licensed in Wisconsin under a

Can a mortgage loan originator licensed in Wisconsin under a mortgage banker/Broker we do both,own an appraisal company licensed under someone else? A licensed appraiser would train me to do appraisals? I would do work for that Appraisal company and work towards a Residential certified appraisers license. I own the Mortgage company also.JA: Because real estate law varies from place to place, can you tell me what state this is in?Customer: Wisconsin sorryJA: Has any paperwork been filed?Customer: noJA: Anything else you want the lawyer to know before I connect you?Customer: I am just wondering if I can : 1) WORK FOR AN APPRAISER AS AN EMPLOYEE?

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Law Educator, Esq.

Attorney At Law

Doctoral Degree

112,954 satisfied customers
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