How to fight an Appraisal

Question

I just had to sell a house slightly below the appraisal price due to bad info obtained by my agent.  How or can you fight an appraisal price if not up to the original number obtained on the front end?  Now, I really believe due to the amount of work put into a place should of increase the price of the house as well, but it was a battle to fight..

Ramon Cuevas · Answer

I agree with Brandt. It sometimes helps to provide the appraiser with a list of all of the upgrades/repairs that have been completed on the property. I worked for a mortgage servicer for 8 years doing short sales and was usually on the other end of the spectrum, clients trying to get a lower appraised values or disputing the appraisals. At the end of the day, an appraisal is only an opinion of value. You can send 10 different appraisers to the same property and all of them could have a different opinion of the value.

Hopes this helps.

Brandt Smith · Answer

@Alfredo O. what is causing you to believe the house should below appraisal price due to bad info? What was that bad info?

As for amount of work increasing the appraised value, it does but only to a certain extent. If most of the neighborhood has Vinal floors and Formica countertops, and you put in travertine floors with granite counters, you won't get "credit" for the work above and beyond the neighborhood.