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THE CHALLENGE
A $2.4 million transaction was at risk when two required appraisals both valued the property at just $2 million.
With a $400,000 valuation gap, the financing — and the entire transaction — was suddenly in jeopardy.
Steve Prince reviewed both appraisal reports, identified significant valuation issues, and prepared detailed supporting documentation and market data.
Two new appraisals were ordered.
John Tolliver personally met the replacement appraisers at the property and provided the documentation Steve had prepared. Both appraisers independently concluded that the property supported the $2.4 million value.
The transaction closed.
WHAT WAS AT RISK
The buyer’s financing required two appraisals. Both came back at $2 million — a full $400,000 below the agreed $2.4 million purchase price.
At that point, the transaction faced a serious valuation problem.
Rather than accepting the reports at face value, Steve reviewed the underlying appraisal work and identified issues that warranted a closer look.
The goal was not simply to dispute a number. It was to determine whether the available market evidence supported the contract price.
THE STRATEGY
Steve reviewed both appraisal reports, identified significant valuation issues, and prepared detailed supporting documentation and market data.
When the original values were not changed, two additional appraisals were ordered.
John Tolliver personally met the replacement appraisers at the property and provided the supporting material Steve had prepared.
Both appraisers independently concluded that the property supported the $2.4 million contract price.
Explore more transactions where experience, judgment, and persistence helped change what happened next.
Two appraisals valued the property at $2 million. Two additional independent appraisals supported the $2.4 million contract price. The transaction closed — proving how experienced analysis and preparation can change what happens when a deal becomes complicated.
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