Asked by heymjo, Las Vegas, NV • Mon Dec 24, 2012
I puchased my home in the San Fernando Valley 5 years ago when it was a foreclosure. I paid $575K; the previous owner paid $765K before it was taken back by the bank. I subsequently put about 50K into the housen with Jetliner Views of the San Fernando Valley and a lot of remodeling. After 4 months on the market, I finally got an offer of 580K for the house, but the appraiser now claims the valuie is 550K! The problem is that there have been no regular sales in the past 6 months, but a lot of short sales. My buyer will not pay more than the appraised value. Do I have any recourses here?
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