Applying for HELOC but shafted on appraisal
Good Afternoon, what should I do when an appraisal came in lower than what recent sales were 30-60 ago? I reviewed the appraisal and saw a couple discrepancies as well. I’m new to this and want to make sure I’m doing the right thing.
Most Popular Reply
You can request a second appraisal but will have to pay for it and email the appraiser about the discrepancies if they're major enough. If the financial institute wont go off a second appraisal than you can always start the process over somewhere else.
A great start would be contacting a local agent or lender and asking them if it seems like a reasonable appraisal, these are wacky times, my friend and appraisers are for more subjective than they'd care to admit.