Zillow Advice: Refinance - Home appraisal was wrong http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ Zillow Advice | Zillow Real Estate You can ask your loan officer ... http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ You can ask your loan officer to request a re-consideration from the appraiser/management company. &nbsp;They will ask you to provide additional comps to consider. &nbsp;This route should cost you no additional money. &nbsp;Every appraiser is different, some are very conservative while others not so much. Mon, 18 Nov 2013 20:52:00 GMT http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ 2013-11-18T20:52:00Z Wayne is correct. The banks ... http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ Wayne is correct. The banks will not care about any independent appraisal you have, and it is rare for an appraisal review to be successful. I had this problem while refinancing my home, and went to a different lender, who appraised it at $50,000 higher than the first lender. <br/>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; But before spending more money on appraisals, ask your agent for a CMA and their thoughts. They should do this for free for you, and might give you insight on why the first appraisal was low. Sat, 16 Nov 2013 05:45:00 GMT http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ 2013-11-16T05:45:00Z Lenders don't use AVMs as ... http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ Lenders don't use AVMs as a substitute for appraisals for many reasons (including using the Zestimate being against Zillow's terms of use).&nbsp; &nbsp; Consider the appraisal as correct (unless there are specific errors they made) and Zillow inflated.<br/><br/>House value is not precisely on square footage, so a smaller house is likely to command far&nbsp; more per square foot than a larger if everything else is equal (such as quality of construction, lot size, etc)<br/><br/><br/><br/> Fri, 15 Nov 2013 22:31:00 GMT http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ 2013-11-15T22:31:00Z Wayne is 100% correct.&nbsp; ... http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ Wayne is 100% correct.&nbsp; No lender will accept or even consider an appraisal completed by an appraiser selected by the client.&nbsp; You would be throwing your money away at this point.&nbsp; You should either follow their advice and have your agent run some comps for you to see if the first report is off base and if it is try and have your current lender submit the new comps to the appraiser for a reconsideration of value.&nbsp; If that doesn't work you should look for a new lender with a new appraisal and alert them to the issues with the first company.&nbsp; Good luck! Fri, 15 Nov 2013 21:45:00 GMT http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ 2013-11-15T21:45:00Z "I would counter and hire ... http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ "I would counter and hire another independent appraiser to redo it" would be waste of time and money. Lender/Bank is not going to accept an independent appraisal. Ask your Agent to run comps for past 6 months, and determine if there is justification to appeal the appraisal value from bank appraisal company.&nbsp;If there are pertinent comps and bank's appraisal co will not increase appraisal, your option would be to consider another lender and new appraisal. Fri, 15 Nov 2013 21:03:00 GMT http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ 2013-11-15T21:03:00Z I would counter or hire another ... http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ I would counter or hire another independent appraiser to redo it. Before doing anything, contact the agent who worked with you when you bought the house. He can pull up 6 months of comps (houses that sold generally within one mile). That should give you a rough idea of what it's worth.<br/><br/>Please don't rely on Zillow. The zestimate can be wildly above or wildly below what the house would actually sell for.&nbsp; It does sound, however, like your appraisal might be too conservative. Fri, 15 Nov 2013 20:55:00 GMT http://www.zillow.com/advice-thread/Home-appraisal-was-wrong/519123/ 2013-11-15T20:55:00Z