How common is it for a buyer to seek a re-valuation ?

This a tricky spot to be in. As an agent -- we do a lot of pricing research to determine a fair offer price. (Regardless of the current selling price) Having a $50K pricing discrepancy is a bit shocking at this price point. The Seller does not need to sell the property to you at this appraised amount and an appraiser can make mistakes and miss an important comparative property -- especially if the are not local. There needs to be further conversation between you and your agent and your agent and the Sellers agent -- plus bring the appraiser into this. Having lower mortgage payments would be a win for you -- unfortunately it isn't that simple.

Your agent might be shocked because while a low appraisal can sometimes mean that the seller will agree to sell the property to you for that price, it often means you will go back and renegotiate the purchase price with the seller. Oftentimes we see a renegotiation to somewhere close to the appraised value, but not always that exact amount. If you feel that your agent isn't on your side, I recommend having an honest conversation to that effect to see if there was possibly a miscommunication. Best of luck and hopefully you can get your price negotiated down and get those payments lower!

It’s actually fairly common for buyers to request a re-evaluation or appraisal review when the appraised value comes in lower than expected. This process, called a Reconsideration of Value (ROV), allows buyers and their agents to present comparable recent sales that support a higher valuation. It’s a standard step in real estate transactions and can make a big difference in financing and negotiations. Working with an experienced agent who understands local comps in Fort Myers and Cape Coral helps you navigate this smoothly.

It's very unusual for a buyer to ask that an appraisal come in higher so they can pay more. In fact, most buyers welcome a low appraisal because it gives them leverage to renegotiate the purchase price or walk away without penalty if the seller won't adjust. A few points to keep in mind: • **The appraisal is for the lender.** Your lender orders the appraisal to make sure the collateral supports the loan. If it comes in low, the lender will only lend based on the appraised value. That means you either have to renegotiate with the seller, increase your down payment or terminate under your financing contingency. • **Challenging a low appraisal is possible but rarely changes much.** If you or your agent believe the appraiser missed comparable sales or made factual errors, you can request a reconsideration of value through your lender. You wouldn't ask for a higher value just to pay more; you'd do it only if you think the appraisal is wrong and want to keep the deal together. • **Agents react differently.** A buyer's agent might be "shocked" because a big gap between contract price and appraised value can blow up a transaction. They may be worried the seller won't come down, or that the lender will deny the loan. Their job, however, is to represent your interests. If you're not comfortable with how your agent is handling the situation, talk it through with them or their broker. In your case, a $50K difference on a $290K manufactured home is significant. You can use the appraisal to renegotiate the price closer to $242K, or decide whether you're willing and able to make up the difference in cash. It's not common for buyers to seek a re‑valuation just to pay more; it is common to review the report and appeal if there are clear errors. Open communication with your agent and lender will help you determine the best path forward.

It is rare for a buyer to seek a re-valuation unless it’s necessary to keep the deal alive. A $50,000 gap is significant—you now have an opportunity to negotiate with the seller for a lower purchase price or walk away without overpaying.

In AZ, this means you have to go back to the Seller to request to purchase at the appraisal value. The Seller is no in any obligation to lower the agreed price to match the appraisal. Usually, you formally as the seller to meet price, meet in the middle (though this mean you will come out of pocket for the difference/ the lender will not lend on more than the appraisal), or in this case Seller would not agree and the contract would be cancelled.