Dear Monica: We are in a contract to buy a home and our lender is now wants more appraisals of the property because of the size of the loan. Is this common? Rita C.
Dear Rita: Lender demands that arise during a transaction can be a problem and may even derail it. Often the lender wants more time to do these appraisals, and the buyer has to ask for extensions. This can be a problem if a seller refuses, and the deal can fall apart, which we have seen happen. I hope you will be able to work with these demands.