I have successfully completed cash out refinances here numerous times.

@Christopher Smith  Thank you for the explanation.

But I understand your explanation. 

If anyone is knowledgeable on this topic we would greatly appreciate some explanation. 

Of course the other explanation is that they got a good deal.Still, I am confused how an appraisal, by an independent bank hired appraiser, can come back fine and the lender doesn't accept it.

Usually, however, it will not be available, and you will have to rely on your own tax accountant for explanations.

But honestly, you should call the Title Company and ask them to explain along with your attorney and ask for an explanation.

I'm a little outside of Sacramento, but my neighbor's house was just recently listed and it went in 3 days, also had numerous offers, and they ended up accepting one for $50k over asking. 

My primary marketing strategy has been craigslist and Facebook marketplace, while I have some seen some interest through these, there are numerous other listings that are slightly cheaper and in better areas.

Make your offer with an explanation of how you arrived at your #.