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Updated almost 2 years ago on . Most recent reply

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Appraisal came in at 235k, Under contract for 277k. Buyer here! HELP!

Atampreet Singh
Posted

Hello all,

I am under contract on a 4 bed 2 bath home in one of the nicer suburbs of Detroit, Auburn Hills. 

I am under contract with seller right now for 277k with 8k in seller credits negotiated upon inspection.  

Now, somehow, appraisal has come in at 235k.

Since, this house has a lot of earning potential for me as a mid term rental airbnb. I would like the deal to not fall through 

Seller has sent in writing a counter for 250k with no concessions, and has asked me to sign mutual release if I don't accept. 

Any thoughts from experienced investors? 

how would you go about negotiating price or buying with sellers terms as is? 

Most Popular Reply

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Drew Sygit
#2 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
5,377
Votes |
8,751
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Drew Sygit
#2 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
Replied

@Atampreet Singh given the market is not increasing anymore, what do you have to lose by walking away?

You can check back on the property in a month and it it's still there, make another offer.

REMEMBER - investors make their money when they buy!

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