Low appraisal value-how to dispute home value?

<<>> If you get a low appraisal value from your home, it's best to keep cool and use these steps to try and get a better home value.

1. Never verbally or physically attack the loan officer, Management Company or real estate appraiser. It’s usually not the professionals’ fault that the value of your home did not come into value. It is the markets fault.

2. Ask the appraiser if they can review sales that may support a different value. Before the industry began to change, I’ve changed a few of my reports based on new information in the area and/or new sales in the area, but the comparable sales must be reasonable and supportive and comparable. If the sales are not comparable, I will write in the appraisal exactly why the sales that I used in the appraisal are more relevant than the ones that you’ve provided. Don’t just select any sales that support the value you think your home should be. The appraiser will see right through this and discredit all of the sales that you’ve used. If they are older, different design, different age or further from the subject than the ones used in the appraisal, don’t use them. The appraiser will disclose that they are not the best comparable sales.

3. Ask a realtor or a professional with access to MLS if they will provide you with additional sales that may better support amenities that are similar to your home. In some cases, the realtor will find a sale that is at least as good as the sales that I’ve used in the appraisal. If the sale is closed in MLS and I research the sale and find it to be better than the ones used in the report, I will incorporate it into the appraisal. If warranted, I will change the value of the report based in this new information.

99% of the time, the realtor or the homeowner can not provide sales that are any better than the ones I used in the appraisal. The best way to dispute your home value is to never verbally or physically attacks the professional, ask the appraiser to review sales to see if there are any additional sales that may have been missed and/or provide better sales for the appraiser to analyze.