Buying Investment Condo For Over Appraised Price

1 Reply

Hi all,

Long time no post! I finally found another property that meets my criteria for my investment strategy and want to put an offer on it. Problem is, the owner (and I) know it won't appraise at the listed price, but they aren't willing to budge off their number. The market is crazy hot here right now, so they are comfortable waiting and seeing who is willing to work with them or pay cash.

My question is, the numbers work for my investment even at the elevated sale price, but what are some strategies I can take to tackle this type of situation? I offered slightly above ask, but again, the place likely won't appraise at that level. So I'm looking for some other potential options outside of just offering more cash (already putting 20% down)

Thank you!

Not sure you have many options. All you can do is make your offer and wait. Best case scenario the listing goes stale and they reconsider. It is a seller's market unfortunately.