Just had property appraised and it came back as $298,000.

Appraised at $283k, a year and half after we purchased it.

Hello all,I am purchasing a duplex in Minnesota for $90k and the appraisal value is $100k. 

I got it for a really good price and my equity is up to about 100k already (paid 265k appraised for 365k).

Because knowing what I know now, I would have liked to put in appraisal contingencies with my offers.Very confused and starting to think my agent is taking advantage of us.

Appraisal Contingency - This is the reason you're losing out to cash buyers.

Do they need an appraisal?

After the inspection, and requesting all things be fixed, the owner has come back and said that they will lower the price to 69K and that they will only fix what the lending appraiser says needs to be fixed.The unit currently has a renter paying $650 a month that wants to stay.

Appraisers sometimes has crazy different opinions, but start with those parameters.

It was a very competitive seller's market, so we had to sweeten the deal with appraisal gap coverage.How did you finance this deal?