Who determines ARV when refinancing?

[Christopher Davis]

Not sure which forum to put this in. Reading through BRRRR by David Greene.

With the whole topic of refinancing, this is assumes an accurate ARV, and the bank lending you 70-80% of that.

Question: who determines the ARV? I would think the bank would since they will be lending out based on that figure?

So how can the investor and their agent accurately predict an ARV that will be in line with the banks opinion? Obviously this will be based off comps but how do you know the bank will agree? And they will need to do an appraisal too right?

Thanks for any help