It has been a busy year, and absent specific things to write about (there was always a stock chart or something that I found interesting to share on my other blog), I feel no compulsion to write a soporific post for the sake of writing.
I had expected to today to close on my FR property. This did not happen because at the 11th hour the bank underwriter indicated that they needed a second appraisal. Geez. This is the second time that this has happened. I guess it stems from FHA underwriting on 'flipped' houses--though it is not an FHA loan. Likely co-opted underwriting. Oh, I hate that work as it sounds so 'flip' and belies the amount of expense and work that goes into it. Nevertheless, if you own it less than a year and sell it...it is a 'flip'.
The second appraiser came out on quick notice. He indicated to my realtor that he did not see any issues with the house value. But, I'm waiting for the report. He was interested in what was done to the house (lots!). He indicated, too, that he gets lots of these last minute calls. For the NEXT house I sell, I plan to put some teeth into the contract that requires the buyer's lender to be a bit more on the ball.
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