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You're either overpaying for the house or the appraisal is wrong. Get some comps in your area. The appraiser for my last house tried to do the same thing. I told him if he could find a comp house for what he appraised mine at I'd give him $10K in cash. He couldn't. In fact, the final appraisal came in about $5K more than the selling price. Most appraisers just do a "drive by" appraisal. Either get another appraiser or don't buy the house.
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