All Forum Posts by: Greg Maddox

@Michael Plante great information,thank you I will do that !

@Michael Plante yea didn’t completely make sense to me! The same bank issued two separate appraisals and decided to stick with the one 20k less. It’s almost like there is nothing you can do about it . The scary part is that appraisal will stick with the property that my cause issues on the next appraisal...

Good part is a property just sold less then 1000 feet away for 145k, hopefully that helps.

Looking to sell complete rehab homes for maximum ARV buy owner quickly. What do I need to know to complete this efficiently. (Tips)

@Benjamin Aaker thank you for the advice, this deal went through an agent there was no direct contact with the lender. The buyer really wanted the home, the lender just would not budge.

@Corey Hawkinson thank you, I’m really unsure why the second appraisal was issued. Everything went through an agent. So there was never direct contact with the lender. I would think the bank would average the two numbers, not completely disregard the better number.

So an investment property is listed for 150k. This property was appraised at 150k, the bank issued out a second appraisal. This appraisal came in at 130k , this is not beneficial to the deal. The bank threw out the 150k appraisal and stuck with the 130k appraisal. So of course we challenged this but the bank stuck firmly with the 130k appraisal. I’m not sure how that works , why it works like that and what can be done about this if anything?