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Updated over 5 years ago,
Buying completed BRRRR property - value determination (??)
I am looking at a rehabbed property that was recently completed. The value I believe is overstated (of course) .. I'd like to look further and get under contract .. yet it hasn't been appraised, either, just realtor's CMA which has some area comps close, and some afar off in my own digging .. should (or could) there be an appraisal contingency in the deal, so I won't get screwed on the value?? If so .. what would be a good percentage? 5%? 8? Etc ..
Any ideas as to how to potentially proceed would be appreciated.