to dos / best practices ahead of appraisal & closing

[Jason A.]

Hey everyone,

I am under contract on a multi and targeting a close by end of month. All my prior purchases have been new construction – this is a 40 year old property – so thought I’d ask if anyone had thoughts or suggestions.

This is owner occupied … someone suggested I have my lender communicate to the appraiser which unit I plan to live in (because it is one of the lower renting units).

Also, how do you think about appraisals … I see both negative and positive aspects if the property comes in under contract price.

Thanks for any thoughts.