Appraisal came below what I expected

[Wogderess H.]

Hello everyone,

I need help in deciding whether to go forward or not with this investment property. The list price was 85K. I am now undercontract at 81K. I asked for repair adjustments of 4K and they accepted. Now the appraisal came right at 82K. And the appraisal was done on cost based and market comps. It did not consider the repairs I found the property needs. What do you advise me to do? Should I ask the seller to go down another 3K?(85K original list price - 82K appraised price).

Thank you for your help!