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Updated about 5 years ago on . Most recent reply

User Stats

8
Posts
3
Votes
Nicky Faucett
  • Real Estate Agent
  • Hainesport, NJ
3
Votes |
8
Posts

In today's climate, do you fight a low appraisal or let deal die?

Nicky Faucett
  • Real Estate Agent
  • Hainesport, NJ
Posted

What would you do in this situation?I am an investor and Realtor in the south jersey area. I have my 7th rehab under contract and my current HML got a ridiculously low appraisal in, with comparables not even in the same town. I am appealing it, but now my confidence is shaken that my lender would accept it without even questioning the comps. Would it be worth my time to submit an application elsewhere? I am supposed to close March 30th ... or just let it go with the current state of the world. Not sure what to do. I still feel my numbers are solid and am confident in my valuation, but maybe a blessing in disguise???

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