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All Forum Posts by: Cathy Wilson

Cathy Wilson has started 1 posts and replied 1 times.

Rehabbing & House Flipping

Post: House I'm Trying to Flip Appraised Lower than Asking Price

Cathy WilsonPosted
  • Ingleside, IL
  • Posts 1
  • Votes 0

I just bought and fixed up my first flip. It sold in less than a week and I had three full price offers. The one I picked was FHA and now that we are down to closing, it passed inspection but appraised at 26K less than the sale price. My realtor is trying to appeal the appraisal because she feels the appraiser was not from the area and didn't know the market. If this doesn't work, does anyone have any other suggestions? Or dealt with this type of thing? I'm thinking I may just rent it out for awhile if I can't get what I want for it?

0 Votes