I’m looking for a lender that can appraise the property before I purchase it.
For example, I am currently looking at a property that is worth about $80k and I have negotiated a price with a seller at $52k.
Since the bank only lends on the lesser of the purchase price or appraised value, I was going to purchase the property at $52k using hard money and cash out refinance with a bank with no seasoning period at $80k appraised value so that I can pull all my money out.
By being able to send the appraiser out before purchasing the property to confirm the value of the property it definitely mitigates my risk as well.
Are there any lenders that can help me do this?
Most hard money lenders will have an appraisal done as part of the process and the appraisal will come in prior to your closing. Hard money lenders like to mitigate their risk as well.
You won't be able to "cash out refi for 80% LTV with No Seasoning"....so it's a moot question.