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by Denvergirl on May 5th, 2009

Denvergirl

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Bank Appraisal is Less your Home's Worth What do you do when the Bank Appraisal is Less your Home's Worth? Our house is worth 339k but the bank appraisal came back at 325k... all of the comps our real estate agent pulled and the other agent pulled showed

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Answers. 4 helpful answers below.

  • by Anonymous on August 21st, 2009

    Anonymous

    Honestly, your house is probably not worth 339k. One the housing market is terrible. Depending on the type of appraisal done, you may not be able to refute it. Just negotiate with the buyer and lower the price a little. Its about compromise.

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  • by Denvergirl on May 5th, 2009

    Denvergirl

    Sorry-Update to the question... I am the seller, it's the buyers bank.

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  • by I Lost My Marbles on May 5th, 2009

    I Lost My Marbles

    I'd try a different bank....

    Look at both appraisals and ask the bank rep who appraised your home to explain why there is a $14,000 difference. Then go to the real estate agent and do the same thing. I don't think that's unreasonable. It's your home, your $$. Then have a separate party give another appraisal. Different places often have different ideas of how much something should be worth.

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  • by bandit lets go jets on May 5th, 2009

    bandit lets go jets

    this is only temporary the market will rebound and the house will go up in value you dont want to ruin your credit and go through the hassle of moving unless you cant stand the house or the area

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