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Updated 8 months ago,

User Stats

7
Posts
4
Votes
Grace Santos
4
Votes |
7
Posts

Anyone ever appeal an appraisal report for the projected STR rental data?

Grace Santos
Posted

I have a short term rental in McKenzie Bridge, OR that I'm doing a cash out refinance right now and just got the appraisal report back. The ARV came back reasonable, but on the report, the appraiser only used Vrbo data and no Airbnb data, which many of my neighbors use both platforms. They also put that we have been marketing the property for 3 months, which we just listed it 2 weeks ago so that makes no sense why he would say that or where got that. Our rental is new so he's using projected, but has anyone who has had any new listings challenged the rental data on the appraisal report and been successful and how did you go about it?

Also just to add, we did provide an entire packet for the appraiser of the updates, added value, AirDna data with occupancy rates and market data of neighboring comps. The appraiser also called me to ask these things. Any guidance is appreciated. 

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