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Updated about 4 years ago on . Most recent reply

Michael Valenzuela's profile image
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Michael Valenzuela
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  • from Texas, United States
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Michael Valenzuela's profile image
Michael Valenzuela's profile image
Michael Valenzuela
  • New to Real Estate
  • from Texas, United States
  • Member since Nov 12, 2020
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Michael Valenzuela
  • New to Real Estate
  • Texas, United States
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Real Estate Deal Analysis & Advice

Appraiser bailed out

Michael Valenzuela
  • New to Real Estate
  • Texas, United States
Posted

We are in the process of purchasing a duplex on a street full of duplexes. The problem is that no one has sold a duplex on the street in 10+ years. The appraiser could not find any comps in the area. When suggested to go off of the rental income, he bailed....2 days before closing. We had ordered the appraisal 2 weeks ago. Has anyone had this happen before?

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Joe Splitrock
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Joe Splitrock's profile image
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Joe Splitrock
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Joe Splitrock
  • Rental Property Investor
  • Sioux Falls, SD
ModeratorReplied

Appraisal should have been done two weeks ago, not ordered two weeks ago. Good luck.

  • Joe Splitrock
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