I can not afford to pay for an apraisal. That is the buyer's choice. He paid around $2,500 for the first one. The lease did get signed by the present owner and tenant. Now, I'm tring to move forward to get the deal closed for the lease to transfer to the buyer...And as far as appraisers go...the appraiser has to be approved by the bank, they will not accept just anyone's appraisal. Thanks..

good luck!

Well...the saga continues with this proprty from hell. The buyer's bank has now,8 months later, said the appraisal is too low. Now, 5 years ago an apraisal for a mortgage on it was the same as the one they say is too low, now 5 years later. In the mean time the value has had to go up, it's a decent area and property, and surrounding property has stayed stable if not improved. A new septic has been put in and there is a package store paying a lease. and there is another business I just leased for it in there too. There is one unit unrented and the buyer will take another unit, so it's owner occupied. This bank is killing this entire deal. The buyer is afraid he'll lose his 100K deposit, plus he's lost all his cash outlay to get appraisals etc. The Seller wants to keep the 100K because he's lost so much on this with it off the market for so long. This makes me wonder if this is typical of commercial properties? Remember, it's only a $525K listing. I represent both seller and buyer.

not typical...your buyer is just at the wrong bank.

Aaron is right on! You buyer is most definately using the wrong lender. Maybe you can have your buyer contact Aaron and see if he can get the job done!

Maybe I could have Aaron's email address..?

I have Aaron's web page...Can you do MA from IL?

Aaron is located in California not Illinois. Not sure if he is licensed in MA or not. His phone number is listed on his website. Call him and check.