[Olderguy]

A lender isn't going to give anyone "proof of funds"....because a LOI isn't an approval. An approval has to go through underwriting. And appraisals are taking 6 weeks right now. And I have seen land approvals at + or - 50%. Had one at $160K and another appraisal at $610K Same property.

[Fundyman]

A lender isn't going to give anyone "proof of funds"....because a LOI isn't an approval. An approval has to go through underwriting. And appraisals are taking 6 weeks right now. And I have seen land approvals at + or - 50%. Had one at $160K and another appraisal at $610K Same property.

Two appraisals coming in at such insane difference just means one appraiser was working for the lender & the other was independent, if you ask me.

[abfunders]

Two appraisals coming in at such insane difference just means one appraiser was working for the lender & the other was independent, if you ask me.

Could be, but it was ordered via a third party both of the first two times by different lenders, and the third time, I was more in control with a new lender, and I did the processing to order the appraisal. The first two times it was in January, when prices were really confused. In June, things have since stabilized on the upper side.