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Updated about 10 years ago on . Most recent reply

User Stats

36
Posts
14
Votes
Matt Sauls
  • Rental Property Investor
  • Redlands, CA
14
Votes |
36
Posts

Low Appraisal - County SF vs. Appraiser SF Question

Matt Sauls
  • Rental Property Investor
  • Redlands, CA
Posted

I just received the appraisal back on an investment property I'm purchasing that came in $5k low.  My purchase price is $140k and it appraised at $135k.  

As I'm scouring the details of the appraisal I'm noticing differences between the appraiser's listed SF for the subject property as well as several of the comps used when compared to the county tax assessor's website.  These differences range from 50sf up to 120sf in some cases.  

When factoring in the adjustment $/sf he is using, these differences in SF would raise the value almost up to my purchase price of my own property and some of the comps.

Do I have a leg to stand on to appeal?  Or, does the appraiser's field measure trump the county website?  What is the most successful way to appeal for those who've had success?

If not able to adjust with the appraiser, does anyone recommend going back to the seller to renegotiate based upon the difference in SF from the listing and what the appraiser field measured?

Most Popular Reply

User Stats

537
Posts
228
Votes
Neil Aggarwal
  • Lender
  • Richardson, TX
228
Votes |
537
Posts
Neil Aggarwal
  • Lender
  • Richardson, TX
Replied

County sqft numbers are off a lot of times.  The appraiser actually measured the house so I would use their numbers.

You have nothing to lose and something to gain by asking the seller to negotiate based on the appraiser's sqft.

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