Paying above appraised value for SMF??
Is it ok to pay above appraised value? I have offered on a 4 pleX - all 3/2’s. Good area and school district. Was under contract but buyer couldn’t come up with extra down payment. An appraisal was done at 390k - owner wants at least 425k and will not reduce to appraised amount. Appraiser couldn’t fine enough comps because the others that have sold in the complex in the last year have been 2/2 and not 3/2.
Comments, thoughts, suggestions.