01 September 2009

WTF? (aka: BANKS ARE THE DEVIL)

In a turn of events that is making me question the status of my cosmic Karma, our appraisal has failed. (Seriously- What DID I do???) And by failed, I mean the dude sent by the (EVIL) bank appraised our house at the same value it was appraised at 2 years ago (which is about $10,000 less than the sale price). Even though we remodeled the kitchen and everyone & their mom thinks the price is right. So... the accepted offer? In jeopardy. The calmness and serenity of being done with the house drama? Poof. GONE. The anxiety, worry and stress of getting this fixed, sold and done with once and for all? Back with a vengeance.

Our realtor claims it isn't time to panic yet (HA! She didn't just submit her PPSO forms requesting to be moved out of said house on the 1st of October and signed papers formally resigning her position at work on the 16th of October.). She found the comps we based our price on, she submitted paperwork detailing the work that has been done on the house and apparently the buyer's agent is working to fix this too. All hands are on deck to try and right this ship. But honestly, my outlook is grim. (Oh, and let's NOT get into the fact that this whole mess is happening solely because the EVIL banks offered sub-prime lending which caused this housing crash and now they are screwing ME and everyone else over by under-appraising houses in order to cover their own asses. Color me LIVID.)

I do not know what to do now. Save cry, knit, drink, cry some more, and pray to anyone upstairs who is listening for a teensey bit of help on this one. I know Swiss, bless his heart, will just say to do whatever we have to do in order to get the sale done with... even if it means loosing more money. I can honestly say that at this point, I'm in total agreement with him. Anyway, if you have some spare time, throw out some good financial juju my way. And if you know what I did to mess up my Karma so spectacularly, drop me a line because I'd really like to know...

PS- As an added bonus, the PPSO office just called to inform me that our move will cost us $1,000 out of pocket because he was single and living in another state when he got his PCS orders, even though he didn't report to his new duty station until after we got married. Our current home is further away from our new duty station than his last duty station was so yep, we get to absorb that cost. Wheeee! LOOK AT ME! I AM MADE OF MONEY!!!

8 comments:

Post Tenebras Lux said...

Oh, serious suckiness! I'm really sorry =(.

Kanani said...

Oh Crap!
I'm really sorry.

The Good Girl said...

That's poopy.

loquita said...

The appraisal process is so subjective, I personally think it's total crap, same as the total crap that is "home inspectors".

A $10K appreciation in value after 2 years and some renovations is totally normal. The bank/appraiser are just trying to cover their asses to an extraordinary degree simply because other people were given such craptastic loans during the bubble.

I am sitting here grinding my teeth in sympathetic anger and WTF!!!!!

The good news is that you know both realtors will be working their butts off to fix this, because it's their commission on the line. These are the situations that make it worth it to have some professional help, even though it cuts into profits...

silver star said...

Banks are the devil! I'm not trying to sell a house, but our bank is causing us a lot of problems with our accounts. I hope this gets cleared up soon for your sake.

Jenny said...

Oh dear...that is just a big ol' poop sandwich, isn't it?

Hang in there, lady!

liberal army wife said...

I'm hoping for something good from an appraiser - but I don't hold my breath.

Your Karma is fine, the asshole banks - are not.

grndvl1 said...

I am in the process of buying a house/ selling ours and just got screwed Wells Fargo under-appraising the new house. The house we are trying to buy is 400K and probably worth more like 450K after upgrades. The appraiser came in and compared our house to 3 in the area and one 5 miles away with one them a foreclosed house short sale. They appraised it at 345K! So now to get a loan from Welss Fargo I can only get 276K cause we have to get an 80/20 loan. So that means I either have to have the builder lower his sale price to 345K, fat chance, or to come up with 44K more to buy the house, which I don't have. On top of it Wells Fargo only decided to tell us of the this situation 8 days before closing. Seems like this is a way for them to cover their butts and float less money out there. Again the consumer pays the price for their bad practices!