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Updated over 2 years ago,
Get a commercial appraisal prior to shopping for a cash out refi?
I have 2 commercial properties that I’m looking at Cash Out refinances for within 6 months after owning them for over a year.
What’s the risk if I pursue my own commercial appraisal vs waiting on the bank to order it?
Almost all of my 7 commercial closing dates have been pushed due to waiting on appraisals. I think I’d rather have it in hand and be able to shop the refi around vs having the bank order it while they underwrite. I know this isn’t as common but I think it should give me more control.
I understand I’ll need to front the cash for it but is there a time frame that they would expire?
Is there anything else that I may be missing?