Basically, home appraisers arrive at a value by looking at what similar homes have sold for in the area the last few months. They get comparables from public records, local multiple listing sales, and their own experience in the area. The appraiser schedules a walk-through to determine the condition and how the home compares with similar sales in the area.
Since appraisers are human, they have their opinions and prejudices. Two appraisers can look at a home and come up with two different opinions, even though both are following accepted appraisal standards. They can also miss problems, make mistakes, read the measuring tape wrong, and all the other things people do. So what do you do if you get a low appraisal? If an appraisal comes in low and you disagree with it, most appraisers will listen to your argument. But, you’ll need to provide solid evidence that they missed the call. For instance, if you have some comparable sales in the area they missed, that helps. Or if the appraiser got the square footage wrong, you can tactfully bring it to their attention that a remeasure will confirm your figures.
The appraiser is not your enemy, and you don’t want to make her one. If there are problems, it’s best to talk to the appraiser and find out why. Most of the time more data or repairs can resolve these problems.
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