My lender is about to cost me a deal on an investment property. We’ve pushed closing once and may have to again because they can’t get their appraisal accurate. My estimates had it at $300K and there’s came back at $600K, and they refuse to let the deal go through until they verify what’s right. Do I have any recourse if the deal falls through bc of this?

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Use cash

funny

How much are you asking for? Surely if you’re looking for a <$300k mortgage and it appraises at $600k they wouldn’t hold up the deal?

Yeah, this doesn’t make sense. And what are “your estimates”? Your estimates of what??

Lenders appraise on the current state. Your ARV doesn’t matter until it’s actually repaired and re-appraised

Appraisals are nearly impossible to challenge or change. You will likely need to find a new lender and different appraisal (which may not be an option if you’ve already pushed closing once), or bring cash to the table to close.

I hope you knew the risk of this going into the deal and left the appropriate contingencies in place…

Unclear what you posted. Shouldn’t be the other way around?

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