I have a Love/Hate relationship with Appraisals, here’s why! Growing up, my father used to say to us “same thing make you laugh make you cry!”, and I’m pretty sure he was talking about appraisals lol. But seriously, an appraisal can literally make or break a deal.
I’ve made 5 figures extra on deals and I’ve also lost 5 figures on deals due to the appraisal report. I’ve lost entire deals. I’ve had to order multiple appraisals because the first guy aint het it right lol.
But at the end of the day they are a necessary evil. Even when I buy cash I always get an appraisal to ensure the value in my investment AND to back my deal evaluation. It’s also good to have on file as leverage! 👌🏾
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