Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago,

User Stats

15
Posts
2
Votes
Jeremy Bridges
  • Antioch, TN
2
Votes |
15
Posts

Appraiser question on selection of comps

Jeremy Bridges
  • Antioch, TN
Posted

I recently finished my first flip. Coming close to closing and the appraisal came back $7,200 under the contracted price. It was already a slim margin, so that did hurt. We needed to close so we adjusted the contract to get the house sold. My issue is when looking over the comps she used, she picked two houses that were bigger that pulled my value down, and those two also took a long time to sale. Mine was under contract within five days of putting it on the market. She also used a house that wasn’t renovated and built in 1900 vs mine, 1946, as the highest weighing comp. I sent her a comp same distance away, closer to same sqft, and same age, that had been renovated but she would did not change her report. The only difference with that property was it was a 3/1 and mine was a 3/2. Is there anything I can do, or is she in the right using a much older house that wasn’t in the same condition as mine? Looking for advice for future rehabs. Thanks for your time.

Loading replies...