Gaps in Appraisals When Selling

[Chad U.]

Not sure if there are any other discussions on BP regarding this topic, but please direct me other posts if so.  

For those of you regularly fix n flipping and or selling several properties, have you had any appraisals come back lower than the purchase price?  Particularly if the buyer's bid came in over ask?  If so, what was your strategy to get it closed?  Have you insisted that the seller come up with the difference, or did you lower the contract price to meet the appraisal.  

Interested to see other's take on this.....