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Updated over 9 years ago on . Most recent reply

Gaurav Bahal's profile image
Gaurav Bahal's profile image
Gaurav Bahal
  • Investor
  • from san francisco, CALIFORNIA
  • Member since Jul 19, 2015
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Gaurav Bahal's profile image
Gaurav Bahal's profile image
Gaurav Bahal
  • Investor
  • from san francisco, CALIFORNIA
  • Member since Jul 19, 2015
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Gaurav Bahal
  • Investor
  • san francisco, CA
3
Votes |
33
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Real Estate Deal Analysis & Advice

Appraisal is Less than Contract: To Buy or Not to Buy? HELP!

Gaurav Bahal
  • Investor
  • san francisco, CA
Posted

Hello BP! My wife and I are contemplating our first investment property, a triplex in FL. It's fully rented, projected conservatively calculated returns are 10% cash on cash, 1.3% price-to-rent, 7% cap rate. Appraisal came back 4% less than the contract which was our original offer (12% less than asking price). Not sure if it makes sense to buy...your thoughts on what else we should be considering in our decision are appreciated!

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Mark Freeman's profile image
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Mark Freeman
  • Real Estate Investor
  • from Clovis, CA
  • Member since Aug 29, 2014
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Mark Freeman's profile image
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Mark Freeman
  • Real Estate Investor
  • from Clovis, CA
  • Member since Aug 29, 2014
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Mark Freeman
  • Real Estate Investor
  • Clovis, CA
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Mark Freeman
  • Real Estate Investor
  • Clovis, CA
Replied

@Gaurav Bahal Ask the seller to reduce the purchase price to the appraised value.

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