Lawyer, title company, maybe an appraisal, etc.The lender will have to approve your friend before the assumption could take place.If the current owners put 20% down, they're going to want that back at "sale."

The appraisal came in lower than the offer and they were working something out but I do not know the details other than the property has sold.The appraisal did not use construction costs nor income to set the value of the ADU addition. 

The only other thing is that I am a little worried that the appraisal might come in low because it is a refi.

BRRRR can work with multifamily although it's a bit trickier because often you need to syndicate such deals and the appraisals are a little more difficult to predict. 

The property appraised in August at 1.2M so we have 115k in equity, roughly 10%. 

But in the loan details section it just states the loan type as "VA".Lastly, we didn't have to have an appraisal done for this refinance, and the loan officer assures us that it is a VA IRRRL loan.

I picked it up for $10,000, put $40,000 into it in repairs, and it appraised for $75,000.

Here are some quick stats:- Appraisal done on park and vacant land alone (3.4 acres) valued at $40k but entire business with land valued at asking price of $480k.

Hi Everyone,I have placed an offer for a 4-plex and through the appraisal report, I got informed that each unit is 250 sqft less than the county records.

We paid 8k for a 3.5 FHA DP, so not much equity in that sense.So obviously I'd like to know if that's even worth pursuing, but honestly I just want to wrap my head around the nature of the Cash-Out Refi - how would this be done if it actually (I don't think it will) appraised around 334k?