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Updated over 1 year ago on . Most recent reply

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10
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4
Votes
Matt Stoltzfus
  • Flipper/Rehabber
  • Marshfield, WI
4
Votes |
10
Posts

Appraisal to low on flip

Matt Stoltzfus
  • Flipper/Rehabber
  • Marshfield, WI
Posted

Is there any way to get the contract amount if the appraisal comes back to low. Appraiser is mostly going by the fact that I got a great deal when I purchased and claims he cannot justify my sale price even when there are other comps in area.

  They won’t allow me to hold a second mortgage but what about an option?

 Anyone familiar with this strategy? 

Most Popular Reply

Account Closed
  • Investor
  • Scottsdale Austin Tuktoyaktuk
4,152
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Account Closed
  • Investor
  • Scottsdale Austin Tuktoyaktuk
Replied
Quote from @Matt Stoltzfus:

Is there any way to get the contract amount if the appraisal comes back to low. Appraiser is mostly going by the fact that I got a great deal when I purchased and claims he cannot justify my sale price even when there are other comps in area.

  They won’t allow me to hold a second mortgage but what about an option?

 Anyone familiar with this strategy? 

The only things you can do are lower the contract price, have the buyer bring in more money for the sale or use a different lender and start over.

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