I had 2 bad appraisals in 1 week.
I was able to have 1 of the rehabs appraisal adjusted.
The other rehab, still working on the appraiser. The contract price is $100k, the VA appraisal came in at 94k.
There have been some poorly done rehabs in the neighborhood I am working in and unfortunately anything can qualify as remodeled...including homes with stained carpet and 12 broken windows...ugh!
My question is if we cannot get the appraisal adjusted, do I have other options than what I have come up with so far:
1.) Buyer comes up with 6k (or at least some more cash), not likely given the price range of the home
2.) Take the 94k, not give the 3.5 in closing costs. Buyer finances 100% since its VA
3.) Owner finance the remaining 6k, ensuring a 100k comp in the neighborhood I am continually working in.
4.) Buyer switches their lender (Wells Fargo) and gets a new appraisal
5.) Put the home back on the market and hope the VA appraisal doesn't get attached to the property

I am concerned about losing the profit but more concerned about setting a low comp for future home sales