Appraisal came back LOW - now what?
Under contract to buy a really unique property, but the appraisal came back like $40k under the agreed on sales price. We are financing this one, so can’t move forward without the seller coming down.
Seller (investor/flipper) refuses to come down on price, even after the bank agreed to challenge the original appraisal. 2nd appraisal came in the same as the first.
Question is this: have you ever had/seen an appraisal challenge actually change? If not, how do people resolve situations like this?