Low appraisal on new-construction refi

[Ken Stanton]

Hello everyone, I'm setting up to buy my first door and am doing a refi on my primary to fund it.

Problem is, my primary is new construction (1yr old) and comps on the refi all used other new construction homes. These come in very low since the contract (and price) on new construction is done 6-12 months before closing, so the pricing is now very, very old!

Any advice on how to win the appeal of the low appraisal? My thought is to look for older (2+ years) homes nearby that have sold recently as better comps, but I don't know if they'll consider it.

Thanks! So excited to get this done and join the BP party!