Ok, moving along. So if you think we've been building and just not posting about it, you would be wrong. Remember about 6 weeks ago when we put the septic in and I posted this picture?
Well, this is what the property looks like now.
Yep exactly the same! About 9 weeks ago we started working with US Bank on our loan and here's how things have gone.
Apply for loan
Bank says all looks good
Appraiser has a hard time finding comps
Appraiser finds comps
Appraiser gives comps to bank
Bank's underwriter doesn't like appraiser's comps
Bank lowers amount we can borrow
We say "fine."
Appraiser says if they lower amount they loan, he's afraid we will build an "inferior" product
We say "No we won't"
Appraiser says, "I'm pulling my appraisal."
We say, "No wait. Please don't do that. This has already taken 9 weeks."
Appraiser says, "Tough shit."
Ok, he didn't really say that.
Builder is trying to reason with appraiser.
If we don't have something by Tuesday, I'm going to the bank, getting all of our loan paperwork back and heading out to find someone more reasonable.
Shoot, this has been so much fun, let's start all over again!