Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago,

User Stats

3
Posts
0
Votes
Zion Hurt
  • New to Real Estate
  • Philadelphia, PA
0
Votes |
3
Posts

Seller adamant about home price after appraisal comes back lower

Zion Hurt
  • New to Real Estate
  • Philadelphia, PA
Posted

Hey my name is Zion! This is more of a rant and wanted to see if anyone else is having the same problems. So I got to the last stages of this deal. My first property that I was going to house hack. With todays market I would not have cash flowed unfortunately but would reduce my monthly living expense greatly while building some equity and what not. But we got the appraisal back and it was 10k less than what the seller wanted. His asking price was 28k over similar comps in the past 90 days so already ridiculous to begin with. My team and I tried to go for the appraisal price which was 18k over the most expensive comp in the area. But no matter what he was fixated on that price and backed out no negotiations. I know it is typical to meet in the middle as well but the property is not worth anywhere near what he was asking for we just pleased him with our initial offer to get us through the front door. Even his sellers agent was working on our side because he was not going to get another deal this good. Plenty of houses in the area have been on the market for weeks dropping price every week. Due to my moving and job situation I am kicked back into the rat race temporarily, not enough time to go through the process of buying my primary residency at the moment. But to my point I am very sadden and loss of hope because all of this. Has anyone else been in the same boat? Really wanted to get this kick started as from many podcasts and investors after the first deal just snowballs from there.

Loading replies...