Hi, we pursued financing at one of the large "nationwide" mortgage companies. The properties we wanted to buy were a HUD properties and had a stipulated closing date which, if exceeded, incurred daily late penalty fees. I made this clear to the salesperson handling my loan. The salesperson assured us that we qualified for a "fast and easy" loan based on our credit score and the amount of our downpayment. We set a closing date, they did not meet the closing date after many incidents of incompetence. We set a second date (incurred many expenses as a result) and this date was also not met by the mortgage company. Their excuse was that they needed more information and that since a bigger company was taking over, the conditions of our initial agreement was no longer applicable. We eventually had to close without them. Intially, they issued us a Pre Approval based on our excellent credit and stated down payment and immediately ordered an appraisal. We paid for the appraisals-- $400 each for two properties, not realizing that they would eventually (over a 2 plus month time period) not come through. Do we have a chance to recover the appraisal fees?
Thanks for your time and attention to this matter.
Peter
Thanks for your time and attention to this matter.
Peter
