Buying from Open Door, appraisal came in $40k under asking/offer

We are in North Texas. We have put in more than 9 offers on houses since March. We found a 4 bedroom, 3 bath, 2900 sq feet with a pool and a massive yard and deck for $495k. Our offer finally got accepted. We requested some repairs and OpenDoor gave us minimal credits ($2500 out of $10k requested). Appraisal came in Friday at $453k. The appraiser didn’t have the greatest comps and didn’t give enough credit for the back yard deck area (but still, I realize at most that would have raised it to us around $473k).

We amended our offered to $460k since that’s really all the cash we could raise it to. And now we wait for Open Door’s decision. Has anyone had any luck getting Open Door to drop the price to appraisal value. Is there any hope here?

submitted by /u/KnownLingonberry1274
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We are in North Texas. We have put in more than 9 offers on houses since March. We found a 4 bedroom, 3 bath, 2900 sq feet with a pool and a massive yard and deck for $495k. Our offer finally got accepted. We requested some repairs and OpenDoor gave us minimal credits ($2500 out of $10k requested). Appraisal came in Friday at $453k. The appraiser didn’t have the greatest comps and didn’t give enough credit for the back yard deck area (but still, I realize at most that would have raised it to us around $473k). We amended our offered to $460k since that’s really all the cash we could raise it to. And now we wait for Open Door’s decision. Has anyone had any luck getting Open Door to drop the price to appraisal value. Is there any hope here? submitted by /u/KnownLingonberry1274 [link] [comments]

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