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Updated almost 8 years ago,

Laramie Hiebner's profile image
Laramie Hiebner's profile image
Laramie Hiebner
  • from Lincoln, Nebraska
  • Member since Jan 2, 2017
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56
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Laramie Hiebner's profile image
Laramie Hiebner's profile image
Laramie Hiebner
  • from Lincoln, Nebraska
  • Member since Jan 2, 2017
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Laramie Hiebner
  • Lincoln, NE
4
Votes |
56
Posts
Starting Out

Appraisal higher than purchase price

Laramie Hiebner
  • Lincoln, NE
Posted
So I'm buying my first triplex. We negotiated down to $105,000. And we are a few days out from closing and it got appraised at $117,000. What does that exactly mean because the bank told us that means instant equity. Does this mean I could turn around and sell it for $117,000? What are some thoughts?
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