Successfully fought low appraisal

[Zach McLean]

We started a cash out refi on an investment property and went through the process only to receive an appraisal that was well below our target.

Target was $580,000 and the appraisal came in at $500,000.

I combed through the appraisal and realized there were a substantial amount of errors with comp choices.

I wrote a response letter detailing the errors and about a week and a half later, we received a revised appraisal at $585,000.

I think my takeaway here is to provide a packet to the appraiser before they start their process!