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Updated over 15 years ago on . Most recent reply

Jason Cousar's profile image
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Jason Cousar
  • Residential Real Estate Broker
  • from Memphis, Tennessee
  • Member since Aug 4, 2009
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Jason Cousar's profile image
Jason Cousar's profile image
Jason Cousar
  • Residential Real Estate Broker
  • from Memphis, Tennessee
  • Member since Aug 4, 2009
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Jason Cousar
  • Residential Real Estate Broker
  • Memphis, TN
1
Votes |
18
Posts
General Real Estate Investing

Help!!! Bad Appraisal...

Jason Cousar
  • Residential Real Estate Broker
  • Memphis, TN
Posted

I just had an appraisal come back for 50K and the sales price is 55k?

Is there anything we can do? or is the deal dead???

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Steve Babiak
  • Real Estate Investor
  • from Audubon, Pennsylvania
  • Member since Apr 13, 2009
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Steve Babiak's profile image
Steve Babiak's profile image
Steve Babiak
  • Real Estate Investor
  • from Audubon, Pennsylvania
  • Member since Apr 13, 2009
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

Taking a second may not be an option. The lender likely will want to have this disclosed at the point in time when the buyer's application for the loan is made. And the borrower will then have a bigger monthly payment on the combined loans - thus possibly not qualifying for the loan.

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