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LIGirl2012
LIF Infant
Member since 7/11 71 total posts
Name:
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Sequence of Events...
Hi all,
So we have found a property and are in contract. We have our documents filed with the bank for our mortgage and the appraisal is scheduled for this Sat. My question is that does the appraisal come before the commitment letter? Or can the commitment letter come before the appraisal because our loan officer said that she hopes to have our commitment letter before the end of the week but wouldn't they have to have the results from the appraisal back first?
Thanks in advance!!
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Posted 2/8/12 7:59 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
Serendipity
Summer!
Member since 4/07 7631 total posts
Name:
PrayingWishingHopingALOT
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Re: Sequence of Events...
I thought you wouldnt get your committment letter until the appraisal is done.
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| Posted 2/8/12 8:09 PM |
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evrythng4areason
And then there were 4
Member since 1/10 5224 total posts
Name:
Kayla
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Re: Sequence of Events...
we got our commitment 1st..
commitment was granted on saturday pending appraisal
appraiser came yesterday
we're *hopefully* closing next week, as everything was fine with the appraiser
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| Posted 2/8/12 9:35 PM |
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Maybe-baby
LIF Adolescent
Member since 12/07 774 total posts
Name:
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Re: Sequence of Events...
Posted by evrythng4areason
we got our commitment 1st..
commitment was granted on saturday pending appraisal
appraiser came yesterday
we're *hopefully* closing next week, as everything was fine with the appraiser
I am in a similar situation. Commitment received yesterday and appraiser will be going out on Monday. Commitment letter has the appraisal listed as a condition.
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| Posted 2/8/12 10:48 PM |
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Re: Sequence of Events...
It depends on the bank. Often the commitment letter has conditions on it (one of which may be the appraisal). Obviously, the fewer conditions that are on the commitment, the sooner you will get the clear to close from the bank.
Good luck!
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| Posted 2/9/12 8:53 AM |
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