The Loan Officer tells the Buyer "there is enough blame to go around for everyone". Frankly, it offended the Buyer more than comforted them. See, right before a closing on a Manchester NH area Home, the appraisal was deemed "FAILED".
What failed is my question? The appraiser wrote "that the home needs a new electrical system as no basement lights worked." It sounded extreme and expensive. But wait, the appraisal was done 30 days ago. It is VA and there was a small list of repairs needed. There was painting a couple of exterior areas with peeling paint and installing a hand rail. There was no mention of electrical systems?
What happened since the appraisal? The home was occupied by the seller. The electric worked just fine they said. The seller moved out on the weekend and met me on the Monday to do a walk though before the buyer came. We also were to meet for the final inspection by the appraiser to show the exterior paint and hand rail was done.
I showed the appraiser the exterior areas all completed and walked inside to show her the hand rail. The appraiser sat on the stairs and reviewed her pictures. Somewhere as i went into the kitchen with the seller. The appraiser wandered down stairs. The light switch did not work. Got to the bottom, the light switch did not work. She says good bye, does not mention any issues and then leaves. In an "unknown and unreasoned" action, reports the basement electric is broken and needs full replacement.
Fast forward the underwriter reads and fails the inspection, halting the sale until a full electrical replacement is complete???
It took an act of congress to get this information, but I was focused on getting to the bottom of this and fixing it. It seems the seller hired an electrician to install a ceiling fan the buyer showed the seller they would install in what would be his office. The electrician left the circuit breaker off.
In what needed to be written in triplicate and stamped by the electrician, this simple explanation was sent into the under writer. OH NO, they want the appraiser to go back and check to make sure the work is completed. There is no work, the circuit breaker was off. AND WHY was the appraiser in the basement when there was no repairs to be completed there????
In the next week, we got the mortgage companies manager to take over for the loan officer who was still assigning blame and not helping one bit. The appraiser agreed to comeback and waive her trip fee. Her pictures matched the 24 pictures of working lights i sent in and we got the clear to close.
"You know, had there been any other listing agent, this deal would have been long dead" says the branch manager at closing. The buyer looked at the seller who looked back at them as the buyer spun around to the branch manager and bashed the loan officer for blaming everyone and offering zero options or help. The closing lawyer whose mouth was open hearing this, looked at me and said "It is a good thing they had you Mr. Godzyk, as no one gets these deals to work like you."
With a smile, they buyer and seller got back to signing.
The buyer and Seller were very happy. They paraphrased my infamous saying that any Buyer or seller should take the time to hire the BEST not just the biggest. By using a philosophy, which is simple, to provide more personal and professional service to guide my clients through each step of the buying or selling process, I can help you find your dream home or sell your property. Your agent can stand behind you and assist with obstacles such as this.
The moral of the story is All Agents are not created equal and every buyer or seller should take the time to hire the BEST not just the biggest. By using a philosophy, which is simple, to provide more personal and professional service to guide my clients through each step of the buying or selling process, I can help you find your dream home or sell your property. Your agent can stand behind you and assist with obstacles such as this.
To CONTACT Scott Godzyk please call 603.661.2121 or EMAIL: Sctprop@aol.com .
About the Author: Scott Godzyk is the Owner/Broker of the Godzyk Real Estate Services in Manchester NH. Proud to be locally owned and operated with 30 years of experience, Scott is a leading Agent for Listing and Selling Homes in this area.We are Full Time Agents ready to serve all of your Real Estate needs. Servicing Hillsborough, Rockingham, Merrimack and Belknap counties.
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