I applied for a HELOC from the same bank that holds my mortgage on my primary residence. They offer a "free" appraisal which consists of a drive by, and comps. My house should have a retail value of about $390K, has a tax assessed value of $364K, and other comparable homes in the area are selling in the $350+ range, and mine is on a double lot (2 acres). The "free" appraisal came in at just $266k, over $100k less than the average home price. Now my bank said I have the option of paying for a full appraisal to get a more accurate value. My question is, is there no accountability for the company , FirstClose, that performed the drive by, if there value is so off from reality? I know values can vary between appraisers, but this is more than a slight variance, now forcing me to delay my HELOC a few weeks, and costing me a few hundred dollars.