Finished Basement Appraisal Value??

[Stephanie Southerland]

What is the typical price per square foot given by appraisers on a finished basement in relation to above grade price per square foot? The basement is a bedroom with closet, and large egress window well. Is it about half the value of the above grade? Where I am, basements are not typical, so comps are very hard to come by, therefore, we just got an appraisal knocked down by $10K on a flip, because he valued basement at $43 per square foot, and above grade at $149 per square foot. We originally priced at $138per sq ft up top and $80 per sf for the basement. Had two offers the first week, and are under contract by $2500 above ask, covering some closing costs. Am challenging, as I have gone toe to toe before with this appraiser, and there are also multiple inconsistencies and misinformation on the report as well. Also, when flipping a home, doing full gut rehab, what condition rating are you seeing on your appraisals?