18 Oct, 2018 → by ClaimboUser141967
I can’t believe this even happened
My neighbors were selling their home and agreed to sell me a little over a 1/2 acre for $5000. The seller calls me a couple days before closing and tells me the appraiser made a mistake on his property and included the ground he was going to sell to me. Instead of the lender working out the error, he encouraged the seller to continue on with the close as fixing the appraisal would delay the closing and could even lower the value of their appraisal. He told them I could work it out with the new buyer. Just so happens the new buyer is a financing with Prime Lending too. So then the lender calls the new buyer and encourages them not to sell, telling them it could lower the value of their property. Since when does the lender act as an appraiser? He is making an assumption from his office in Vienna, WV without even looking at the property. That is why banks use appraisers to verify and clarify the value of the land. Not the self serving banker. This land is of no value to anyone but me. It is basically a small partial with my driveway (I have the ride a way) going right through it. Not to mention there are restrictions on the property that would prevent the new buyer from doing anything with the land, other than mowing it. So now, I am out 600 dollars for a property survey (that Prime Lending requested) and the seller is out the $5000 dollars he would have received for the land IN ADDITION to the sell of his house. How is this even legal. Talk about conflict of interests. This is only happening so he can wrap up a quick close. Ridiculous.