Appraisal came back $35,000 lower than sales price (Turnkey)

[Daniel Mills]

OK. So here is the situation. I was in the process of purchasing a rental property through a Turnkey company that was asking $261,000  that just appraised at $226,000. Of course, I am not paying the original amount and I have sent an email asking if they will lower the sales price to the appraisal amount. I haven't heard back yet, but I am guessing they will dispute the amount and say that they will pay for a second appraisal. This is a bit worrying because I know that some appraisers who get a lot of business from the company might try to fudge a bit to get the sales price they want, right. So, I am planning on asking if I can choose the appraiser. I am just wondering if there is anything else I should consider to make sure that I don't get taken here. Any advice would be greatly appreciated.

Thanks,

Daniel