appraisal

Yes.. But it really depends on which type of transaction your appraisal was for.. Are you purchasing a home or selling a home.. Are you refinancing, rate and term or refinancing cash out, or refinancing HARP.. is it an FHA appraisal, VA appraisal, or conventional appraisal?? The fact that you're upset with the value tells me your not purchasing, since if it was low, you wouldn't be complaining.. FHA Appraisal are good for 120 days (4 months) once it's uploaded on to FHA's Website (FHA Connection), and it stays with the property for the 4 months.. , and there are ways to challenge the appraisal, but since appraisals are "Opinion of Value", then rarely will you get an appraiser to overturn his number... conventional appraisals do not have the same guideline as FHA, and if you don't like the appraisal, you can get another one, however only if you switch lenders will the higher value be considered. If you're not switching lenders, then they will take the lower of the two, so there is no benefit to you there.. VA has a very formatted way of appealing the valuation, and it's done automatically if the value comes in lower than sale price, the appraiser will have to comply with the " The tide water initiative"... But in general.. Since an appraisal is, as I stated above, an "Opinion of Value", then each loan product and type have ways to challenge the value.. But unless you have solid sold comparables that meet the appraisal guidelines, then you're not going to win that battle, and you're better off just going with it.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Bad news...all homeowners think their home is worth more than it really is. Although not impossible, it's likely the valuation is correct, especially if there are recent comps on it. I had a borrower insist his was wrong a few months ago when it came in at $80k under what he thought was right value...he tried to fight it, lost, and was out the time and extra money he spent fighting it. I ended up doing his refi through HARP as he is now underwater. So make sure you are justified before you go through the hassle.

The quick answer is yes, you can try, but in the current appraiser / lender world, unless you can document an actual mistake on the appraisal, you are not going to get anywhere.

Contact your lender and tell them that you want a file a Rebuttal. Make sure you get a copy of the appraisal, and check it thoroughly for errors. If it was an FHA appraisal, you do not have the option of getting another appraiser. The appraisal stays with the property for 6-months. If you applied for a conventional loan and the Rebuttal doesn't work, you can go to another lender and get another appraisal. Just make sure you have comps to support the value you are seeking. Appraisals are notoriously inaccurate these days. I recently had an appraisal miss an entire floor/story of a home. Good luck

You can try and fight the value but I will say GOOD LUCK.. You need to go ahead and find comparables in your area that you feel are better model matches to your home than the ones the appraiser has used. Once you have them you can submit them to the third party appraisal management company to be sent back to the appraiser. You are also able to order another appraisal with another management company as long as the lender you are working with will accept that company's work