Bank loves an investment refi requests. All metrics on point.
Appraiser assigns a high cap rate. Multiple other appraisers disagree with them.
Deal dead. Something needs to change when 1 person can affect so many people.
Working with a borrower doing a $3 mil ground up, start up. Solid deal. They have $10k in cash and don’t see the issue. Can barely cover the appraisal and title…
Borrowers: if you introduce a new debt structure a few days before closing, expect delays and don’t act like it’s no big deal to for lenders to conform to you.