How a Low Appraisal Cost me $14,000 on a Fix and Flip

Today I am selling a fix and flip property that should have made me a lot of money. I bought the house for $140,250 and had it under contract to sell for $222,500. Even though this houses was the cheapest property for sale in the town it was located it, the appraisal came in at $208,000. We did our best to help the appraiser come in at value, and we challenged the appraisal with the lender, but none of it did any good. Not only did the appraiser cost me over $14,000, but we found out during the buyer’s inspection

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