Lenders, Appraisers, and My Sanity Walk into a Cap Rate
Broker: Easy close, seller flexible, cap rate “motivated” Lender: Send T-12/T-3/T-1, rent roll, estoppels, and your blood type Appraiser: Value based on comps from 2016 and ‘parking vibes’ discount 😂 Me at 2:07am recalcing DSCR: if HVAC is “emotional support CapEx,” do we close? 🥲
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