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Updated over 3 years ago on . Most recent reply

User Stats

21
Posts
16
Votes
Charles Tucker Kimbrough
  • Investor
  • San Diego, CA
16
Votes |
21
Posts

Appraisal nightmare could lose deal in Montana

Charles Tucker Kimbrough
  • Investor
  • San Diego, CA
Posted

I have a deal that may be in jeopardy in Polson MT. We have been through 2 months of appraisals with 2 different appraisers both of which have refused to appraise our property because they claim that there is a lack of comparable properties in the area. The closing is 2 weeks away and I'm wondering if anyone has dealt something similar to this before and what they did to solve the problem? I also wonder if anyone here might be able to suggest a lending option in that area that would not require an appraisal?

Most Popular Reply

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2,507
Posts
4,234
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Jill F.
  • Investor
  • Akron, OH
4,234
Votes |
2,507
Posts
Jill F.
  • Investor
  • Akron, OH
Replied

I got a screaming deal on a property a while back because appraisers couldn't comp it for conventional financing. We used commercial financing and they appraised it based on NOI.

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