Updated almost 9 years ago on . Most recent reply
Financing on Appraised vs Purchase Price
Hi - I am looking at a portfolio of 10 duplexes (20 units) in the Hudson Valley area. The appraised value is approx 20% higher that the ask price. My bank will only give me a loan on the purchase price?
What should I do? Does anyone know a local Hudson valley bank that will finance based on appraisal? Do not want to tie up too much of my cash in the deal.