While this was disappointing, it gave us the impetice we needed to just kill this deal once and for all. After nearly three months of underwriting hell, dealing with idiot mortgage brokers and a buyer who wasn’t completely honest with us, it was time that we either closed this deal or cut it loose. The low appraisal helped make the decision, and the deal is now officially in-the-past.
We will likely be reducing the price on this one in the next day or two (we still have a great profit margin), and will start marketing it seriously.
The Hat Trick House is in the same sub-division, so we’ll build a joint marketing effort around both houses and hopefully be able to attract a lot of traffic in the coming weeks.