Took a cash buyer's word on the appraisal and lost $12k on the flip

They swore the house would appraise for $310k based on comps in Tacoma, so I skipped my usual second opinion, and when the bank's number came back at $298k my buyer walked and I had to drop the price just to cover the loan. Has anyone else had a cash buyer fudge comps to push a deal through, or was I just naive here?

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