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Updated about 1 year ago on . Most recent reply
Purchase Price Unlikely to Meet Appraisal, What Next?
Have an accepted offer to purchase a two-family at 900k. Comps estimate the appraisal comes closer to 850-870k and I’m not willing to cover the difference. What negotiations can I pursue as I gear up for the inspection and contracting?
Any creative terms I can include in the appraisal contingency?
Most Popular Reply
Robert Rixer
#2 Multi-Family and Apartment Investing Contributor
#2 Multi-Family and Apartment Investing Contributor
- Investor
- Miami, FL
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Robert Rixer#2 Multi-Family and Apartment Investing Contributor
#2 Multi-Family and Apartment Investing Contributor
- Investor
- Miami, FL
The situation sounds like a planned re-trade. Win the bid by coming in high then figure out a way to get the price reduced..