All Forum Posts by: Michael Clevenger

@Lynne Jacob

@Moshe H.

Yikes! Did not think of either of these situations. I was already questioning myself on the decision to do so. Now, perhaps I should just take the hit and move on to the next deal. 

@Matt A.

Great information from another point of view. 

I'd report the violation!

@Brandon Ingegneri

WOW! Thank you for this information! The buyers were willing to pay my full asking price so perhaps they will accept this as a means to close the deal. This is great!!!! Thank you, sir!

@Brandon Ingegneri

What do you mean by second position note? I've googled this after you post and just got more questions than answers. Can you give me a brief description regarding your comment, please?

What I've figured out from this experience (my first). Its not worth it to make the property immaculate with the newest trends. I should have just fixed it up from the years it was vacant and put the bare-minimum into the project. Right? Perhaps then I would have been in a better situation. 

@John Vo

Very interesting! It is not an FHA. I'll have to consider this as a possibility.

@Account Closed

Thanks John! I do not expect him change his number. I also made this clear to the appraiser. If I learn something from his response then I'm happy. But why would someone not reach out to at least converse with the appraiser regardless of the initial figure. Even if to only say thank you for your time (this I did). 

@Kelly Courtney

51 days on market. Most of this being as this is my second contract on the property. The first bailed out prior to the appraisal. I may have to learn from my mistake in that some of BP explained above that I invested too much into this property. 

I would actually be okay with the 315k if it was not for future cost of closing that I'm anticipating at 9%. 

@Bryan O.

Thanks Bryan! With school starting next week I believe my percentage of buyers will decline.  In the beginning all exit strategies were available but now weighing them out it appears as though any of these would have a larger loss than the one I'm about to absorb. 

I did email the appraiser Saturday morning and explained my concern with a detailed list of work that was performed at the property, such as the new roof and all the upgrades. No response as of yet.

@Account Closed

I'm afraid this is what I'll have to do! 

The 30K is a big deal. I have made so many mistakes throughout this process that after closing I'll be taking a loss.