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Multi-Family and Apartment Investing

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Bud Dwyer
  • Phoenix, AZ
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61
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Possible to get appraisal fee back?

Bud Dwyer
  • Phoenix, AZ
Posted May 1 2016, 11:25

I recently cancelled a contract on a triplex, because the seller was unwilling to do the necessary repairs so it would appraise at the offer price.  I even offered to have my contractor do it, then have them credit me the cost at close.

The whole time we were under contract they told me they would do any repairs so it would appraise.  However, the language in the contract said they would only consider it, but were paying me lip service right up until the closing date.  Now I am out another $800 from appraisal and wire transfer fees, due to a seller that wasn't really committed.

Is there any way I can get the costs back from this deal or am I SOL?

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