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Updated almost 6 years ago on . Most recent reply

Mo Muigai's profile image
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Mo Muigai
  • Rental Property Investor
  • from Minneapolis, MN
  • Member since Oct 15, 2019

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Mo Muigai's profile image
Mo Muigai's profile image
Mo Muigai
  • Rental Property Investor
  • from Minneapolis, MN
  • Member since Oct 15, 2019
Mo Muigai
  • Rental Property Investor
  • Minneapolis, MN
22
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85
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Starting Out

Appraisal value WAY below accepted offer by $40k

Mo Muigai
  • Rental Property Investor
  • Minneapolis, MN
Posted

How do I handle it? Accepted price $40k over appraisal value, was to close in a week. What do I do?

This is a personal residence property to house hack...

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Russell Brazil's profile image
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Russell Brazil
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  • from Washington, D.C.
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Russell Brazil's profile image
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Russell Brazil
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  • from Washington, D.C.
  • Member since Oct 20, 2012
Russell Brazil
  • Real Estate Agent
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

First ask for reduction in price...if they say no....

then contest the appraisal....this usually fails...

then switch lenders and get a new appraisal.

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