Appraisal is much lower than offer price

Have a short sale with Wells Fargo FHA loan Did the comps - put for sale @ 68500 Had 15 offers within 10 days (put in MLS must be on market 10 days before seller would review any offers) ... seller accepted cash offer for $75K Wells did appraisal during this period .... came in at $55K which I believe is low based on comps how do I go about getting a higher appraisal in order to have the $75K price closed?'.

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Permalink Reply by Bryant Tutas on June 4, 2012 at 1:40am

It it's a cash deal then just close it at $75,000. I'm sure WF won't kick the deal back because the purchase price is too high.

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