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The CRE Humor Jokes

When the Appraisal Hits Lower Than My Caffeine Levels

Broker: Underwriting says 1.35x DSCR, capex baked, easy close Lender: Need updated T-12, estoppels, ALTA, and your kindergarten report card Appraiser: Two comps had a raccoon tenant, so value is vibes Me at 2:07 a.m.: Rebuilding the model for the 7th time, coffee on my pro forma đź§®

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Term Sheet Says Yes, Appraisal Says LOL

Broker: LOI signed, lender nodding, I preorder the 'Closed' banner Lender: send updated T-12, live rent roll, and proof the roof isn’t a rumor Appraiser: found comps from a C-minus two zip codes away—

 
 
 

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