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The Investor’s Guide to a Single-Family Rental Emergency Fund
As real estate investors, your emergency funds are a critical line of defense against unexpected costs. It prevents you from dipping into your budget to handle them. But what should you really use an emergency fund […]
Don’t Overlook This When Buying an Investment Property—Learn From My Mistake
Let’s get one thing straight: Real estate investing isn’t a get-rich-quick scheme. If you think you can just waltz in and start raking in cash without a solid game plan, you’re setting yourself up for a financial face-plant.
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Howard Maidens's profile image
Howard Maidens's profile image
Howard Maidens
  • from Jenison, Michigan
  • Member since Jan 18, 2016
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Howard Maidens's profile image
Howard Maidens's profile image
Howard Maidens
  • from Jenison, Michigan
  • Member since Jan 18, 2016
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Howard Maidens
  • Jenison, MI
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22
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Buying & Selling Real Estate

Low appraisal

Howard Maidens
  • Jenison, MI
Posted Jan 28 2016, 17:14

A few years ago I bought a foreclosure and rehabbed it. A year ago one of my daughters friends got engaged and offered me above market price for it. The catch was they wouldn't qualify for a mortgage until this month. I accepted the offer. The appraisal came in at 12k less than the offer. They are doing FHA mortgage. I have not talked to the buyer yet. Looking for advice from the BP community first on what some of my options might be.

Thanks all.

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