Waiting…again

Our second appraisal is being ordered this morning, so we have another week or so of waiting on the report.  It’s anyone’s guess as to how this one will come out.

The amazing thing is that we are even at this point just 4 days after applying with the new bank.  David called them Friday morning for info and I emailed them that afternoon to see if they’d email us an application to fill out over the weekend.  We filled out the application and got all the required paperwork together so I could drop it off Monday morning.  Less than 24 hours later, I got a call that we had been approved for the loan.  I emailed them the floor plans and other info that afternoon (Tuesday).  Yesterday morning, I ran back to the bank to pick up some disclosure forms they needed us to sign.  I met David for lunch so he could sign them, then I ran the signed forms back to the bank yesterday afternoon.  A lot of driving involved, but at least we got it done in 1 day instead of waiting on them to mail the forms to us.  They are going to order the appraisal this morning.  They said it would probably take a week or so depending on how backed up the appraiser is.  The lady asked me about getting builder’s risk insurance.  I told her David would call once we had a closing scheduled (i.e., let’s not get ahead of ourselves :P).  When I told her who our insurance company is, she said it will only take us 5 minutes to call and for her to get the info anyway.  So far, we are impressed with this bank.  They have been very eager to help and optimistic.  It is fairly large, but it’s local and only has one branch.

Based on some info I read online, I went ahead and emailed them the comps we found, the Energy Efficiency Appraisal Addendum, a more detailed spec list and the amount we paid for the land and what it appraised for back then before it was cleared.  I read it’s better to give the appraiser that info up front because they are not likely to change the numbers after the fact.  We’ll see if it makes a difference this time.

Meanwhile, I checked in with the first bank Tuesday morning to see if our first appraisal is going to be revised.  I still haven’t gotten a reply.