Sellers: What To Do When Appraisal Comes In Low

No one likes dealing with a low property appraisal, but what do you do as the SELLER when that happens?

It's called an “appraisal reconsideration of value”.

You are essentially challenging a licensed professional, the appraiser, to redo their evaluation of your property by providing factual documentation.

Documentation that includes:

1. Comparables sales with all pertinent data included.

2. MLS cut sheets for each sale

3. Concise explanation to the reason the comparables provided are BETTER to those selected by the appraiser.

As a real estate investor, it's important for you to understand your market, and do your due diligence before coming up with a list price.

It will help prevent situations where appraisals come in much lower than you anticipated.