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Appraised at $200K above asking price...

Discussion in 'Joint Ventures' started by Carleton, Mar 6, 2017.

  1. Carleton
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    Carleton New Member REIN Member

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    This is a 12 unit multi-family building in Edmonton. It had an accepted offer but the deal collapsed because of financing. During the process the building was appraised at $200K above the selling price. This is a class C/D building but has had a very low vacancy rate over the past several years. There is room to increase rents. There are several potential exit strategies for the building and it would depend upon what the investor wanted to do. Investor would require about $300K to close and be able to get a mortgage. If interested in further details please email me at clbusson@telus.net.
     

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