Suggesting comps to an appraiser

[Jay Vilardi]

Hey everyone - I'm working on a cash deal that I will use delayed financing on so that I pull my money back out. The good thing with DF is there is no seasoning period. Bad thing - you can only pull out up to 75% of appraised value and they cap you at what you spent at closing regardless of what the ARV is. I'm simplifying it a bit, but that's the overview.

My question is about the appraisal. I have seen several investors here and elsewhere talk about how they provide their appraiser with a one sheet about the property that include legitimate comps from the market. According to what I have seen, the appraiser will use the comps provided to supper a solid (and high) appraisal.

Can anyone shine some light on this? What, if any, advice or strategies do you know to help get my ARV a legit and fair outcome?

Thx!

[David Ramirez]

When I'm selling my flipped properties, I make it a point to personally meet the appraiser at the property. I always come prepared with three strong comparable sales that support my asking price, and I also provide a detailed sheet that lists all the work that has been done to the property since I acquired it. I find that appraisers appreciate this information, and I have never encountered any issues with a property not appraising at my asking price.