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.
Real Estate Deal Analysis & Advice
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 almost 8 years ago,

User Stats

13
Posts
9
Votes
Ryan Klemetson
  • Investor
  • Moline, IL
9
Votes |
13
Posts

Recourse on Shockingly Bad Appraisal?

Ryan Klemetson
  • Investor
  • Moline, IL
Posted

I am attempting to refinance a foreclosure that we purchased 7 months ago. The home is an updated 3 bdrm 2 bth in a B neighborhood. Homes in the neighborhood can sale anywhere from  $160k to $120k, at the very low end. The appraisal came back at $109k, and some of the comparable homes are laughable, 2 bedroom 1 bath homes that are 6/7 miles away in a different class of neighborhood, while not including the house across the street that sold for $160k. I plan to have a conversation with him about the homes that he did and did not pick, but if that fails do I have any recourse? Any other recommendations?

Loading replies...