Home appraisal value purchase

[Kayson Rogers]

So I am trying to house hack my first home and I am closing on the property and got the appraisal back and it is the same as the purchase price at $340,000 and the seller is not willing no negotiate down on the purchase price and I have over $10,000 to rehab the home but I believe once the rehab will be done I can possibly sell it for $370,00. So should I back out of the deal or purchase the home even though I won’t have any equity in the home when I purchase 

[Wayne Brooks]

@Kayson Rogers First, you can’t expect an informed seller to sell for less than appraisal, just like you wouldn’t want to pay More than appraisal.  Also, appraisals will typically come in at, or near, the purchase price even if the appraiser thinks it may be worth more…it’s just being conservative on their part.  I assume this is going to be a long term hold, the $10k is rather insignificant.