Bank Financing 100% of deal

[Nick Rutkowski]

I found a off market 4 unit offered for $75,000. It's assessed at $124,000 and needs about $10,000-$15,000 of work. My lender's VP is drooling over it. She says, if the appraisal comes back above $100,000 there won't be a need for a down payment. I comped the property between $100,000 -$105,000 so she seems to have some merit. 

Now, we have enough for a DP, closing costs, and taxes so we aren't banking off a high appraisal. Who has been in this situation? What did you do to increase the value of your potential house before the appraiser walks through? 

Side note: I have access to the property to clean up and make repairs. Always looking for creative solutions.

[Vee K.]

Before you close on the property, it's not yours. So, even when you have access to the property, the only thing I'd suggest is to clean up the property. Don't do anything on someone else's property.