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Updated almost 3 years ago,

User Stats

80
Posts
38
Votes
Garreton Smith
  • Flipper/Rehabber
  • Bronx, NY
38
Votes |
80
Posts

Appraisal for MLS Property

Garreton Smith
  • Flipper/Rehabber
  • Bronx, NY
Posted

Hello BP Fam, 

I've been putting in offers all week for flip deals. One seller wants me to get an appraisal done (out of my pocket) to go with my offer. The house is extremely distressed and needs a lot of work done. I called an appraiser and he said he won't be able to pull comps on a distressed property the most he can do in his report is assume an ARV and minus it from what he thinks construction will be. Should I take this gamble? What are your thoughts?

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