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All Forum Posts by: Account Closed

Account Closed has started 1 posts and replied 1 times.

Post: Anyone else having appraisal problems?

Account ClosedPosted
  • Posts 1
  • Votes 0

I bought a property just over 3 months ago for $50K. I put $7K into the property and listed it. I went into contract at $86K to an FHA buyer. There are 5 other strong comps in worse condition with less square footage that sold for the same or more. The highest at $100K. The FHA appraisor came in at $71K as a value for my home. He knows what I paid for the property and roughly what I put in, and I believe this weighed more heavily on his decision than what the market is doing. Any thoughts/advice?