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Updated over 7 years ago,

User Stats

52
Posts
3
Votes
Sean Forner
  • Lender
  • Mount Airy, MD
3
Votes |
52
Posts

No Comparables For Duplex-Appraisal Turned Down

Sean Forner
  • Lender
  • Mount Airy, MD
Posted

Hello Biggerpockets Community. I am at the tail end of financing a duplex, but there are no comparables. I have already had one appraiser accept the assignment and then back out 2 weeks later. A new appraiser has been assigned and walked the property last week. I got in touch with him to make sure he'd be able to complete the appraisal, but his tone was not promising. This is a great turn key deal. How can I get this property financed? I'm already putting 20% down and the lender is okay with everything. Any input on this would be greatly appreciated. I find it concerning of the reality that if I can't get financing on this property only cash buyers and investors utilizing hard money can buy it. How do people buy unique homes, or sell theirs for that matter, even when the sales price is obviously justified?

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