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Updated over 8 years ago,
FHA loans and appraisals
We are currently trying to sell a single family home. Purchased 2 months ago at $40k. Listing price $75k. We did quite a few improvements.
Our realtor said someone was interested and they were getting an FHA loan but thought they would have trouble with the appraisal since the value had gone up so much in 2 months.
I had never heard of this issue. I feel like they might have just said this to get a lower price. Im really not concerned about this house but if we do more flipping in the future is this an actual concern? And what can be done to prevent this problem?
Thanks