Appraisal Gone wrong turns to a Denied loan... Pls Help!

[Andres Blandon]

Good Morning,

I have a contract for a property in Pensacola, FL that I need to close quickly. The private lender I was using had an issue with a report the appraiser did, and i'm trying to figure out how to go about it. 

The private lender declined the loan request because the appraised value came in low based on their lending criteria. The appraiser compared my purchase property to other properties that were off by more than 300 SQFT and had 2 less rooms.

The appraiser's report came in at 194,000 and our purchase price is 148,000. There are more than a dozen other properties in this neighborhood that are closer to what my home would be worth, in rooms and square footage, that have sold above the 230,000 and some that were renovated that sold in the 270,000's.

My property details are:

2260 Dupont Dr., Pensacola, FL 32503

5 bedrooms 2.5 bathrooms with 2420 Sqft.

Here are some properties within 1 mile that sold in the higher price range:

3545 Dunfries Rd, Pensacola, FL 32503

4 beds 3 baths 2,420 sqft Sold for 278k

2310 Inverness Dr, Pensacola, FL 32503

3 beds 2 baths 2,124 sqft Sold for 270k

2122 Windermere Cir, Pensacola, FL 32503

4 beds 3 baths 2,259 sqft Sold for 275k

I already have the property under contract and this property can easily make between $50k-$80k in profit.

Right now my day job can cover the holding cost until the property is sold. I appreciate any help to get this deal closed quickly and put back on the market for a great profit.

I am a Military veteran but I had a bankruptcy 2 years ago and my credit won't be approved for a conventional loan until July 2016. I know there's plenty of Private Lenders who will do 75% LTV but I don't have the capital at this time for 25% of the loan. Please message me or reply for any advice.

-Thank you