Quote:
Originally Posted by 784caroline
I was helping someone move to the Villages at they were about to buy a resale listed by the The Villages. My friend was checking out loan information and The Vilages real estate people were really piushing for her to use The Citizens bank IF they wanted to meet a specific closing date. In short the lady decided to go with USAA (she had a pre-approval and rates were comparable)and all was going well until the appraisal came in on the resale property...it was $10-15K less than what the agreed to price was. The lady ended up backing out of the contract and buying something else...BUT I can almmost guarantee you that if her bank were Citizens Bank...the appraisal would have come in at selling price and the contract would have gone forward and my friend would have been out probably a minimum of $10K. Logistically Citizens will ALWAYS make it work, and they are very friendly people to work with, but the question is do they always have YOUR best interest in mind!!
|
It's also quite likely that the USAA appraiser may not have been from this area and therefore was unfamiliar with the Villages housing market. We recently sold a home in Rockland County, NY. The appraiser came from Long Island and had no idea that the community encompassed four different school districts each commanding its own added value. In the case of TV, comparable sales could be anywhere in TV. Whereas we know that locations within the golden mile of each town square tend to be more attractive and command a premium.