Help closing a gap between appraisal and contract price

[Bradley De comarmond]

Hey everyone.

I could use some advice from some creative thinkers out there. Here is the situation...

A client of mine is about to lose her financing because she just quit her job to move to another state, Before she quit, we found her a triplex that is producing $3250/month in revenue and we went under contract for $385k.

Now, the appraisal is coming in at $308k but the income value according to the appraiser is $355k.

Regardless, the seller will probably not accept $365k, let alone $308k and there will be a decent gap. If the deal falls apart, my client won't be able to use financing for 3 years or so and will lose the $2000 in appraisals, inspections, etc. and of course the seller will lose out on the sale and the time and effort.

Is there something I am missing besides the buyer either paying the difference in cash or walking? 

Anything that would benefit both sides would be great. Thank you!

-Brad

[Anthony Angotti]

@Bradley De comarmond provide signed leases and rent rolls to the appraiser. 

They will often use that if the property is currently performing. 

Also, I don't think current rents would increase the value that much though. Perhaps pull some comps and see if the price is substantiated. If it isn't then don't have your client buy it. That's not a ton of income for that price point (unless there is upside potential on improving rents).