Home appraised lower?

When an appraisal comes in low -- the Buyers agent is usually notified by the appraiser of the situation. That agent usually notifies the Sellers agent. Together they try to find comparable sales that may help the appraise and justify the sale price. Once the report is submitted to the Buyers lender -- it is difficult to change. An appraisal is the value of the home at that time. If next week a house sells high or low -- the value may be adjusted. Talk with your agent and see what options there are to keep the sale moving forward. Keeping in mind, depending on the type of financing this Buyer is using -- the appraisal value can "stick" with the home for a few months. In other words -- any other Buyer using the same lending program, their appraisal will be the same valued amount.

The buyer paid for the appraisal so they would be the only one who could contest the appraisal and could not imagine any buyer wanting to pay more than what they were told the value was.

When an appraisal comes in low, it can feel stressful, but it’s not the end of your deal. You can challenge the appraisal with new comparable sales, renegotiate with the seller, or cover the difference if your finances allow. The key is to review the report carefully and have your agent guide you through the best next step so your contract stays on track.

📌 Low Appraisal: What Are Your Real Options? A low appraisal is frustrating — especially when you know the home is worth more and the appraiser wasn’t local. But you do have options. The key is understanding what’s realistic, what’s strategic, and what actually moves the needle with lenders. 🏡 Why the Appraisal Matters The lender will only lend based on the appraised value, not the contract price. So if the appraisal comes in $10K low, the buyer must either: - Pay the difference in cash - Renegotiate the price - Or walk away This is why your agent is pushing you to accept the lower number — it’s the path of least resistance. But it’s not your only path. 🧭 Your Actual Options (From Strongest to Weakest) 1️⃣ Request a Reconsideration of Value (ROV) 📑 This is the industry‑standard way to challenge an appraisal. You can submit: - Better comps - Missed features - Incorrect square footage - Upgrades the appraiser overlooked Your agent should prepare a clean, data‑driven packet — not an emotional argument. Important: You cannot demand a new appraiser. You can only request a review of the existing report. 2️⃣ Ask the Buyer to Order a New Appraisal With a New Lender 🏦 This is the closest thing to a “second appraisal.” If the buyer is willing to switch lenders, you get a fresh appraiser assigned. This works best when: - The buyer is motivated - The market supports your price - The first appraisal was clearly flawed It adds time, but it can save the deal. 3️⃣ Negotiate the Gap 🤝 You and the buyer can meet in the middle: - You drop a portion - They cover a portion This is extremely common. 4️⃣ Accept the Appraised Value 💵 Not ideal, but sometimes the cleanest path to closing. 5️⃣ Put the Home Back on the Market 🔄 If you’re confident the appraisal was an outlier and demand is strong, you can walk away and relist. Risk: A new buyer’s lender may send the same appraiser or reach the same conclusion. ⚠️ When Contesting the Appraisal Actually Works You have a strong case if: - The appraiser used inferior comps - They ignored recent sales - They weren’t familiar with your neighborhood - They missed upgrades, condition, or features - They used comps outside the school district or micro‑market These are legitimate grounds for an ROV. 🧠 What a Seasoned Agent Would Do Right Now - Pull better comps - Highlight errors in the report - Submit a formal ROV - Ask the buyer if they’re open to a lender switch - Prepare a negotiation strategy in case the value doesn’t change You don’t just roll over — you push back strategically. 🎯 Bottom Line Yes, you can contest the appraisal — and you should if the report is weak. Your best path is a Reconsideration of Value, followed by a new appraisal via a new lender if the buyer is willing. If neither works, you negotiate or adjust

You can absolutely push back and get another appraisal. The problem is that a lender will not make an adjustment and the original appraiser will usually never go back on their original value. With that being said you can use the new appraisal as a tool to negotiate with the buyer to either keep your current price or meet in the middle.

In my opinion, as the Listing Agent, I would ask the Buyer\'s Agent to request a rebuttal given that the appraiser is not from the immediate area. Local expertise is crucial for all parties. Secondly, the $10K difference may easily be negotiable by splitting the middle between Seller and Buyer. Good luck

Yes, you can get a second opinion if you do not like the original valuation of the appraiser. You can ask your lender for second opinion but lender may not offer one or accept the second appraisal. Overall you can challenge an appraisal.