Bank appraisal went disasterous , anyone have advice?
I bought a house to flip in Rockland Mass. I bought it for 200k and I put 110k into it bringing to 310k total. It was on the market for 380k and I accepted an offer for 385k, and they are putting down 20k. They bank apparaiasal came in at 325k. I'm horrified, and not sure what some options are. After the agents take their 5% and what ever any other taxes of fees involved, I would lose a good amount of money. There is a huge lack of comps in the area, slim to none. The inventory is super low. Does anyone have some ideas? Thanks for reading.