It’s been over a week since we had the appraisal done on The DIY House. Based on what I wrote in that post last week, I’ve been very skeptical that the house would appraise for the selling price, despite the fact that it still appears to be priced well below market.
I found out last Wednesday that the appraisal was going straight from the appraiser to the underwriter, and was completely bypassing the mortgage broker. Apparently, this is common for VA loans, and the broker doesn’t get the appraisal report under a couple days after it’s gone through underwriting. Well, after almost a week of waiting and wondering, we finally got news from the other agent that the house appraised for at least the selling price. We still don’t know exactly how much it appraised for, but I really don’t care.
This is great news, and means that there aren’t any additional major obstacles (that I know of) standing between today and our closing date. Assuming things go as planned, we should close on the sale of The DIY House some time next week!
Two sales in one month would be wonderful, especially after receiving my tax bill today…let’s just say that pretty much all the profit from one of these houses is going straight to Uncle Sam tomorrow…