Appraisal Saga

Obvious FTB—Things were going ok when we started the process. Only a few hiccups so far but mostly just on our end. We had the appraisal ordered at the beginning of the month and it just completed today. It came back with Tidewater but we won’t know how much under value until Monday (yay thanks for giving it to us so late!!) which has us pretty bummed out. It’s a lovely craftsman home in a very great area and neighborhood. We definitely think it’s worth it’s value and we have been thinking the appraiser probably didn’t even do a good job appraising but we won’t know until Monday the soonest.

The sellers agent provided comps to support the home value but as I’ve said many times we are all just waiting ducks. We hope to negotiate the price down and if it doesn’t budge we would be forced to walk which really would suck. Houses we loved as well are already sold so we will likely have to put home buying on hold until the market gets better for buyers. It also sucks how we’ve spent so much money between inspection, appraisal, emd, and pest inspection only to walk away with half of that money. We also have our lease ending in 2 months which I don’t want to go month-to-month since it would be super expensive and take more money that we need to shell out instead of putting towards another house. We are supposed to close in 2 weeks but this really sucks. Moving forward we probably won’t ever use a VA loan again especially with how complicated and picky they are.