Rant: My cash out refi appraisal came in way lower than I expected

I spent $600 on an appraisal for a cash out refi on my rental in Austin and they valued it at $285k when I was expecting at least $320k based on comps just down the street. Turns out they used a sale from 8 months ago instead of the 3 newer ones that sold closer to my house. Has anyone else fought an appraisal and actually gotten it bumped up?

2 comments

2 Comments

christopher4026h agoMost Upvoted

Fight it for sure. I’d send them the three newer comps with addresses and sale prices and ask them to redo it. Appraisers can be lazy and just grab old sales that are easy to find. I got mine bumped up by $30k once by pushing back with better comps. Just be polite but firm, and keep the pressure on.

jordan3306h ago

Pulling comps from across the street worked for me.