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Updated about 6 years ago on . Most recent reply

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Fatime Perazic
  • Brooklyn, NY
4
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10
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Seller wants to see appraisal

Fatime Perazic
  • Brooklyn, NY
Posted

Hi everyone, my boyfriend and I are in the process of closing a duplex investment property in PA. We got the inspection completed and the seller agreed to have the repairs done only after they see the appraisal that our mortgage lender conducted for us. I’ve never heard of this before and is this customary for a seller to inquire about an appraisal done by the buyer? Feedback is welcomed! 

  • Fatime Perazic
  • Most Popular Reply

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    Bob Woelfel
    • Investor/Agent
    • Kansas City, MO
    308
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    Bob Woelfel
    • Investor/Agent
    • Kansas City, MO
    Replied

    @Mindy Jensen is right.  These two don't normally overlap.  We had a seller do this to us once where they backed out of a contract last minute after the appraisal had already been done.  We continued to work with them on a new contract, but then they wanted to see the original appraisal.  I refused based on the fact that I didn't want them to use the appraisal that we paid for as a negotiating tool against us.  It sounds like your seller is trying to do something similar where they could decide not to fix the repairs if the value was higher than the originally thought.  They would justify it by saying that you're already getting a deal on the property, etc, etc.  If they want an appraisal they can pay for it themselves.  Good luck.

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