PropertyBrain helps real estate professionals work smarter through the implementation of tools and learning. Our goal is to help you grow your real estate business and increase your income.
Low Appraisal Workflow
A Simple Step-by-Step Guide to Fight a Low Appraisal
Hi, we’re PropertyBrain and we help real estate agents, just like you, analyze market data and confidently price properties.
This Low Appraisal Workflow will show you the best way to examine an appraisal report and determine the best way to fight a value that came in below the contract price. In a perfect market the appraisal value and the contract price would be the same, but in the real world there are a number of reasons why this may not be the case, and when that happens you will need to present data to the lender to try to save the deal!
Most times when agents submit a reconsideration of value (ROV) request that is unsuccessful, it is due to either being presented in an incorrect way, or due to presenting data that does not actually support the contract price. This Low Appraisal Workflow will show you how to avoid these common problems and present your case to the lender in the right way.
The end result:
You’ll have the best chance possible of getting the appraisal value raised!