Sitting at the table to sign, and seller decides on an appraisal

[Nate Julian]

Tonight I went to a home to sign the REPC with a guy I’m buying a home from.

I engaged with him a few weeks back and he was relieved to meet me because I can make thing so simple for him by buying w cash.

i followed J Scott’s advice and asked the seller how much he thought the property was worth. It was right where I need the numbers to land to be profitable on this flip. Two weeks later as we sit down at his kitchen table to sign the REPC he drops the bomb. Not really a bomb but surprises me that he has decided to get an appraisal. He never mentioned this before. I will likely still get the deal, but will probably have to pay more and negotiate more to keep it comfortable and profitable.

Should I have done something different before sitting down to avoid this delay and potential loss of the deal if it appraised for a lot more?  I’ve run comps, and still feel good about it, but the comps are going to pull it up.  I’m not interested in ripping someone off, but I do need a deal or I simply won’t buy it.  I’m curious if anyone has had much experience with this, and for future reference, when closing a deal like this, what can I do to avoid this hiccup in the future?