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Updated over 3 years ago on . Most recent reply

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Alexis A Peinado
  • Rental Property Investor
  • Las Cruces, NM
15
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21
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Appraisal came back at my low ball offer

Alexis A Peinado
  • Rental Property Investor
  • Las Cruces, NM
Posted

I made an offer of 130k on a duplex that was listed for 200k, it was approved by the seller and we began escrow. However, the appraisal came back at 136k, I'm wondering what I'm missing here? My intension is to use the BRRRR method but now I'm not too sure what this means for me? Has this ever happened to someone and what was the outcome? I don't know if to worry!

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17,518
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,279
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17,518
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied
Originally posted by @Arsen Atanasovski:

Never give appraisers numbers, that’s their job to give you that number, reason why there is a fee as well for them to do their job. You should hire another appraiser and tell them your purchase price is $200k see what happens after that. 

 Appraisers literally have a copy of the contract. 

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