Newsflash: [PA] Still waiting on appraisal…

So we’re closing on our second home next Thursday and closing the sale of our first home the same day. The buyer of our current home has an FHA loan and the FHA appraiser came though about 4 weeks ago and noted three repairs that had to be made (chipping paint on exterior wood surfaces). I repaired it the same day and our agent notified the buyers agent the repairs had been completed the following day. The buyers lender still has not ordered the appraise to come back out to see the repairs are complete. It’s getting close to crunch time and we’re worried the settlement date will have to be extended, which in turn may jeopardize our purchase. Can anyone tell me what could happen if the appraisal does not get completed in time for settlement?tl;dr selling current home, settlement is in 10 days and the fha appraisal has not yet been completed. What will happen if it’s not done in time?



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