There is a HUD home listed in my area and has a "as-is" value of $100,000. My Wife & I bid $118,000 and the bidding ends in 7 days. We are financing with FHA (3.5%). Our real estate agent stated the house "should" have no problem appraising for the amount we offered ($118,000). Everything we read online states there CANNOT and WILL NOT be a second appraisal. If they will only allow us to finance $100,000, then we will have to come with $18,000 cash (which won't happen). Can somebody please explain to me who is correct and how this process actually works? Thank you!!