Need advice on Appraisal
Ok, long story short, I am buying properties with a cash offer and rehab, and then refinancing them after the rehab is complete usually about 4 months down the road. I have a property that I bought for 3500 bucks, and put 25k into it. The real estate appraiser only used FORECLOSURE comps! I could throw a rock and hit a house 4 houses down with 1 extra bathroom that appraised for 68k and its the same materials... I could understand if I had her appraise it when I bought it, but honestly its almost a new house...New floor joists, all new flooring, new kitchen etc... Do I have any recourse in this? I just don't understand how she would appraise a house and only use foreclosures as comps 4 months after the sale and after it was completely renovated... Needless to say, I have 30k in it, and it appraised for 21500. Anyone have any advice here on how to get my money back out of it?