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[Bay Area] Appraisal Ordered by Lender with whom we didn't close and now we want another appraisal.

After getting into a contract on a house, we decided to do some mortgage shopping. We had an underwritten pre-approval from Chase before starting the house hunt. After some loan shopping, we decided on BoA because they provided the best rates. We felt Chase won't be able to match it since the difference was significant.

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5 days later, we hear an appraisal is already done but is on hold. We then realize the appraiser was from Chase (Apparently it was ordered by our lender even before signing anything). BoA is saying their appraiser request will take atleast 3 weeks. Our house has a 30 day closing terms (we are on Day-7). Now our realtor is saying we are in a tough spot and says we should ask for Chase to rate match with BoA. Now the rates are higher than 5 days ago and we have asked for Chase to match. My question is if Chase is not able to match the rate, can we afford to say no and go with BoA and risk

  1. Delayed appraisal which means delayed closing and/or,
  2. Lower appraisal since the staging is removed after the previous appraisal from Chase.

Also we haven't closed with BoA too and we have waived all contingencies.

submitted by /u/Psychological-Knee-2
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source https://www.reddit.com/r/RealEstate/comments/n1m49m/bay_area_appraisal_ordered_by_lender_with_whom_we/
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