Apraisal for REO
I put a offer for a SFM and got it. I am in process of closing in few weeks. I personally think i got a hell of a deal.
Foreclosed asking price= $524000
county apraisal= 627000
accepted offer= 459000
my insurance company did homework and they are wanting to insurace $744000 that will be the value if they rebuild the house.
My Realtor wants apraisal value to come at asking $459000 but hes not sure why. he said thats whay he was told but noone told him why
Goal is to live inthe house for 5-6 years and then flip it
Do i want apraisal value to be high or near sale price?? what are the reasons behind it?