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Updated over 1 year ago, 09/04/2023
Appraisers blowing up deals
Something to keep in mind and I've seen this happen numerous times starting late last year, both from personal investment side and agent side: appraisers are being very tough on their appraisals. They're not giving an inch and erring on the side of caution even with good comps. Hoping for 5-10K over your contract price so you can use the excess as credit towards closing costs? Probably not going to happen. Appraisal came in 5-10K below contract price and you want that seller side reduction? That's also probably not going to happen. I've seen appraisers blow up multiple 7-8 figure deals from other experienced commercial brokers. Something to pay attention to as you buy and sell in this environment.