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Will flip profit affect appraisal?

I have a purchase offer accepted and appraisal scheduled for a week from now.

The story behind the home is, the seller bought from a relative in close to tear down status for 450k in Feb in an off market transaction, fixed the heck out of it, and I’m potentially purchasing for 720k (comps in area support the price).

That said, my leader told me because it’s considered a flip and the profit of the flip is so extensive, the appraisal will likely be much much lower.

Is this often the case?

submitted by /u/sushicary1
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/n27gzx/will_flip_profit_affect_appraisal/
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