All Forum Posts by: Adrienne Finch

Quote from @Robin Simon:

Make sure that YOU are the one paying for and ordering the appraisals, that makes it so the lender must release it to you and can be assigned or used by a different lender if needed and something falls through

Oh I see. That’s advanced. I was just thinking if one appraisal works and the other doesn’t, we just go with the lender who got the good appraisal instead of transfer. 

I assume I’d pay for it. It seems they already ordered it. It’s a very small market and they both hinted they have good relationships with their own favorite appraisers who can get it over the finish line. 

Hi BP,

We are currently under contract for an ocean property for a vacation house with more than 10 acres of land (where we'll build another main house). Working with a lender who says we should be able to finance it as conventional, given intent to build 2nd home, but not 100% certain until the appraisal. The alternative would be a land loan which would result in much more down payment.  

I always shop around for rates and have 2 lenders in process right now, awaiting a match for the rate. Both lenders already ordered an appraisal upfront, which might be the local practice given it takes a while and we have a tight closing window. But regardless of which lender we choose based on rate, should we let the other appraisal and application keep going just to have a backup given the uncertain appraisal situation? 

If one appraisal somehow disqualifies it as a conventional loan, it would be nice to have the other as a back-up to still have a shot at closing on time, no? 

Anything wrong with this plan? 

Hi everyone,

With the U.S. in obvious housing shortage for the next decade at least, the narrative seems to be that this would be positive for real estate investors. Every podcast episode is talking about how the government would fix this in a way that puts more money into landlord pockets - rent subsidies, directly paying landlords for housing, etc. 

While hopefully this will happen, I'm wondering how we seem so confident that things would go in this direction instead of the opposite. Isn't there just as much chance that the policy-level fix for this might lead to rent control, rent ceilings, or other possibilities that might hurt private landlords and take away the free market forces? 

Would love your opinion! Thanks

Hello,

We are out of state investors looking for the right real estate agent in the NC triangle area to help us find a few properties in Raleigh/Durham. I have tried a few so far and although some were nice, they don't seem as responsive and we are looking for someone who can move quickly. 

Looking for single family and multifamily units, and would like an agent who is very experienced in the area to guide us on location. Open to new builds and ready-to-build, cash or 25% down financing. We're ready to get into the market now so would like someone who is available, responsive, and looking for a long term investor client!

Thanks very much,

A.