Profile picture for meralis

what l should do if l think the appraisel they gave me is higher than what the house is worth

  • December 27 2010 - Shillington
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Answers (5)

Profile picture for sunnyview
If the person that gave you an appraisal is the seller or someone hired by the seller like an appraiser or their agent, get your own appraisal. Appraisal numbers done for refinance or legal purposes can be very different than for a purchase.

Do not accept the sellers appraisal or CMA. Cover yourself and get your own so you know that the appraiser/CMA is not compromised. If you are getting a mortgage, your lender will require an appraisal ordered by them in most cases to issue your loan.
  • December 27 2010
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Hello Meralis,

If possible, try to obtain a copy of the appraisal so you can determine why the appraiser valued the home as he/she did.  Also, I would come up with all the supporting documentation as to why you feel the home is valued at the price you deem appropriate.  This will give you a basis in your discussion with the appraiser and hopefully you will be able to come to a mutual agreement.
  • December 27 2010
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Ask to see the appraisal. Review the comparable sales with your Agent. You may also call the appraiser and ask him about the appraisal. The name of the appraiser will be on the appraisal. Be aware that while you may have paid for the appraisal most lenders policy is that it is their property.


Best of luck.
  • December 27 2010
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Hire your own appraiser to do a pencil appraisal...$250.00 no fuss, no muss. It's called doing your do diligence. Then let your Realtor go to bat for you.
  • December 27 2010
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Who is " they "? What is the sales price and " their " appraised value? Have you had comps pulled for a lower estimated value?
  • December 27 2010
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