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Updated over 4 years ago on . Most recent reply

Destiny Mix's profile image
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Destiny Mix
  • Rental Property Investor
  • from Chattanooga, TN
  • Member since Jul 21, 2020
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Destiny Mix's profile image
Destiny Mix's profile image
Destiny Mix
  • Rental Property Investor
  • from Chattanooga, TN
  • Member since Jul 21, 2020
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Destiny Mix
  • Rental Property Investor
  • Chattanooga, TN
5
Votes |
19
Posts
Buying & Selling Real Estate

Help! Appraisal less than purchase price

Destiny Mix
  • Rental Property Investor
  • Chattanooga, TN
Posted

Hey BP! I just got some scary news and I’m hoping you can help me turn it into something positive. I’m under contract for a SF home for 260k. The appraisal just came back for 199k. Can I turn this into a great deal?

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Wayne Brooks's profile image
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Wayne Brooks
  • #1 Foreclosures Contributor
  • Real Estate Professional
  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks's profile image
Wayne Brooks's profile image
Wayne Brooks
  • #1 Foreclosures Contributor
  • Real Estate Professional
  • from West Palm Beach, Florida
  • Member since Jul 27, 2012
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,509
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Maybe, maybe a seller might be willing to meet you in the middle, but I doubt it. Unless the appraisal was Really off, I’d be more concerned about offering 30% more than what something is worth. 

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