Low appraisal, then what?

It's a well-known fact that appraising is an art, not an exact science. Most appraisers are very good at what they do. And thorough. They are licensed, they belong to a trade association, they attend refresher courses and they make sure that their results are accurate. However, mistakes are sometimes made and your number comes in low and you don't like it. There are a couple of ways you can approach the injustice.

Go ahead and ask for a second opinion. What has become more and more popular lately is the AVM, or an Automated Valuation Model. It's nothing more than a computer program that uses real estate data, like sales price, property characteristics and price trends, to calculate a value for the house in question. To read the complete article, please click here.