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So the appraisal came back on the house I am buying at purchase price. However, that there is a gas pipeline easement on the property per title (pipeline easement has been in place since the 50s). But under the external factors sections where it asks about easements the appraisal put none noted.
The easement is clearly marked on the back half of the property, but I suspect the appraiser didn't walk back.
The easement is noted in the title report. I am wondering if I am at risk of the lender noting this omission and then causing a delay due to appraisal inaccuracy, or will the just ignore that and go off the fact that it came in at asking?
Go back and read the appraisal report section. Does the section ask for any " adverse" easements, encroachments, etc. ? Evidently the appraiser didn't consider the easement " adverse" so did not make note of it on the report.
There is a difference between simply having an easement on a property and it being adverse. Adverse would negatively affect marketability. Then you wouldn't have to worry about closing at all- the underwriter might not write the loan.
The appraiser may not have known. But if he/she DID know it should have been mentioned, even if it isn't an adverse situation.
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