Mortgage approved, Inspections came back great, closing money down...One problem though: The appraisal for my property came in 19k below the price I signed up for.

Hello Everyone - I am a realtor, appraiser, now mortgage broker in Canada and I also own an investment property.

As a newcomer to real estate investing, I'm unsure which documents, such as the title or appraisal, need updating to reflect the addition of a bathroom.

The property appraised at $25,000 over purchase by comparison method and around $60k over by cost method.

A ttiel company will prepare lots of other documents to sign at closing and usually there will be an application and an appraisal. 

The data on the report surpasses the traditional 1004 appraisal.  

You are competing against cash as is close in 1 week - 10 days, vs Inspections, appraisals, so about 30 - 60 days.

Sometimes this creates appraisal problems.

The buyer originally intended to use a hard money lender that could not get their third party appraisal done in time to close. 

Also, if there are any good reads out there, I would love to know that too.Interest - HOA - Appraisal - Repairs and Maintenance - Home Inspection - Devices - Travel related - InsuranceThank you, Bigger Pocket Family!