All Forum Posts by: Sheena Lee

@Bjorik Mutize Yes I will follow up. I’m not sure where to look though because our lender is arranging the appraisal. He said he will try to get a better price but doesn’t think he will find anything much better.

@Cameron Norfleet We’ll try, thank you.

@Ed Matson I don’t see many other 3 units in this town so they are right about that. Sure does seem excessive to me though!

@Tom S. Thanks for your comment!

Is it normal to have a high appraisal cost for multi-family properties? We are being quoted $1250. Here is the explanation: “A complexity fee has been added to this order, resulting in a total invoice amount of $1250, due to the following complexities: Older home converted to 3 unit rental in an area not known as a rental market, resulting in limited comps and additional time and research." Is this normal or unusual?

@Clifton Berry In NJ it goes to an attorney for attorney review. In PA there is no such thing so an attorney or title company would handle the transaction. Ask your realtor what is the norm for your state.

@Alex Bradley Do you have a 401K you could borrow from? The numbers would really have to work out though and you’d have to make sure you could afford to pay back that and the mortgage at the same time.

@Helen Dennehy Congratulations and good luck to you!

@Jim Cummings Thank you for the advice!!

@Ayen Lee How is it now under the LLC? Did you transfer the title to the LLC?