Second FHA appraisal came in 5K less than selling price..what now
Michigan flip... 2nd appraisal came in 5K less than selling price. What can I do? I've been through this issue before but the guy is comparing houses that aren't even similar (no garages, less baths, etc). !! I called him and he won't call me back. Can I go to his boss?
What can I do?
I offered a 24 month payment to the buyers as a back up option
The house is WORTH more than the selling price.
Thanks all.
Most Popular Reply
I had a similar issue a while back when selling a condo. We pulled our own comps and submitted them to the appraiser along with a letter explaining why the comps he used originally were not similar properties. 2 properties he originally comped were in a completely different condominium complex and there were 4 already in the complex where our condo was located. He clearly was wrong. He ended up redoing the appraisal with the correct comps and it came back within 1k of our estimate. I would definitely go to the appraiser's boss if he can't be reached!