This is crazy we have had our house up for sale for nearly 1 year. We finally get a really serious buyer. Let me back up … we paid 90k for the property 5 years ago back then it appraised at 97k …. and that was before we did all of the fix ups to it that we did, remodeled bathrooms, new flooring, new roof etc….. which cost over 10k. Now I get a call from the buyers lender stating that the appraisal came through at 88k …. we still owe 87k AND the buyer needs help with down payment and closing costs .. so we would only net 80,500 which is CRAZY to me!! The house has only been improved since we bought it. I have another couple interested in it that would not need downpayment help but that does need closing costs help … so it will still place us in a negative situation. I am baffled? what do we do? will another appraiser say the same thing? … Just to add on … on top of that they want us to do around 500 worth of fixes to it for FHA!! ahhhhh!!!!
Just to add to this …. we have already went … a year ago. We just want to get out clean but can't afford to get out 8-10k less!!! We do not want to rent it as the type of people we would get to rent it are just not the best 
Oh and it is a FSBO so we don't have an agent to fight for us. Can I find comps on my own?
House appraises for less than we owe, what should we do?
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Your problem is this: no matter who makes an offer unless its mostly cash offer the buyer will not be able to get a note more then the appraised value, so if appraisal are coming in around 88K your pretty much stuck with that appraisal when it comes to buyers and getting a loan
so then your choices are to sit on the house, rent it and hope the market turns around in a year or so, or take a loss and sell it for what the lenders are appraising it at, highly doubt you will be able to find a lender to appraise for more then the 88 most likely
that 88K is probably what all lenders will come in at, after the housing bubble appraiser are being very Conservative when it comes to home values plus home values are in decline, so highly doubt full another bank will appraise for more then 88K more likely if you wait the value will decrease even more