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Updated over 3 years ago,

User Stats

105
Posts
48
Votes
Jason Rhodewalt
  • Investor
  • Sacramento, CA
48
Votes |
105
Posts

What to do when selling and there’s a low appraisal

Jason Rhodewalt
  • Investor
  • Sacramento, CA
Posted

Hi we are looking to sell to our current tenants and they are getting an FHA loan. The appraisal came in $30k under the agreed upon price. The price we agreed to was what OpenDoor had already offered us so we could always go with them however we want to help out the tenant. Any recommendations on how to overcome the $30k? They don't have that much in the bank. I was thinking maybe we act as the bank and provide a second note? Or maybe do a formal private loan uncollateralized? Looking for other recommendations. Thanks in advance

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