Lenders that allow appraisals prior to tenant placement

[Joe S.]

Lenders that allow appraisals prior to tenant placement. There are times when it’s not clear whether the sale of property or to refinance it after the rehab. A number of the lenders want there to be a tenant in place prior to ordering the appraisal. There’s obviously many risk for the Investor that has a short term bridge loan. If the refinance loan doesn’t go through due to low appraisal or some other hiccup that could be unforeseen the tenant and the investor  are in a precarious situation.

[Aaron Byrne]

There are certainly lenders who will permit appraisals to occur prior to the home being rented. I would recommend that you look into private/hard money space as those lenders are less concerned about that dynamic and more open to working through scenarios like the one described above. Good luck!