Currently attempting to buy a 4 unit building with an FHA loan through Wells Fargo. Final mortgage amount to be 107k, Asking price was 120k "assessed value" was 119k The issue is comparable sales, the appraiser came back with no comparable sales in the last 12 months of a 4 unit in that price range. There were a few sales of "slums" basically but nothing on the upper end. Currently looking at a FHA property reject due to lack of recent comparable sales. I am confident though that the appraiser did not do his job properly. Wells Fargo used a guy that is 45 miles away from this market, has no experience in this market. Did the physical walkthrough on Oct 31st, did not receive the appraisal until Dec 6th. This whole time he kept saying that we would have it on Friday. Every week, during that time span. He is asked by underwriting to search competing markets and returns later that day with "there are no comparable sales in competing markets" It leads me to believe that he did not bother to even look. Do I have any recourse? Failed FHA appraisal, need advice.