Answers by Michael Constantine

This truly depends on why you are wanting the appraisal. An appraisal is nothing more than one persons "opinion of value" and there is a large difference in an appraisal that is being completed and paid for by a private homeowner vs one that is being ordered by a lender. The appraiser on a private homeowner appraisal has zero restrictions or accountability when completing an appraisal for a homeowner whereas if a lender orders an appraisal the appraiser (in most states) needs to submit the appraisal through a state system and then the lender/underwriters will need to review and agree with the valuation as well and in most cases the appraiser must be much more conservative in their valuation approach with a lender to ensure the loan to value risk tolerance will not be flagged. So if you you are considering a pre listing appraisal...save the money as that appraisal will not translate to an actual valuation and you cannot use that appraisal to dispute a lenders valuation. Hope this helps