Questioning buying a 4 plex

[Victoria S.]

We are under contract on a 4 plex...the CoC is 9% (taking into account vacancy, HOA, cap ex/maintenance ect). We are ok with a sightly lower CoC because the property is only 2 years old so wouldn't have to worry about major expenses for a while. Our mortgage lender called today and said an appraiser was saying horrible things about the property and that "he wouldn't touch it with a 10 foot pole. It is overpriced."

I did the numbers again and they come out the same. Now I’m questioning my decision...anyone have this happen before? Caught me off guard that the appraiser had such a negative reaction! 

Thanks!

[Victoria S.]

He refused to do the appraisal for the lender! It’s a  2 year old, class A property. I’ve just never heard of this type behavior before 🤷🏻♀️