Appraisal issues on house I am flipping

[Luis A.]

Ok, so for the first time I have to deal with one of my flips not appraising for the sales price. I gave the appraiser a list of comparable recently sold, a list of repairs and before pictures of the condition of the house. I even provided a previous appraisal that had been done in November 2010 that came in at $112k.

I am selling the house for $100k and currently have a contract for that amount. The appraisal came in at $95k.

I am trying to figure out what I can do to fight this appraisal. First thing I want to do is to talk to the appraiser to make sure he got all his facts right and figure out why he came up with that amount. Second, If I recall right I might be able to request another appraisal?? I know I might have to pay for it but I am confident that a second appraisal would come in significantly higher.

Any other ideas what I might be able to do to fight this?

[Curt Davis]

Well your November 2010 appraisal is old and not valid anymore so what it was then means nothing. IF your selling the home for $100K and it came back in at $95K, then lower your price $5K and close the deal. Dont waste your time trying to fight $5K. I actually think your lucky it did not come in lower. Move on and close the deal.