• Skip to main navigation
  • Skip to content
  • Skip to footer

Quick Search

Talk To Us Now!

Have a question? Give Steven: (586) 883-3093 or Brian: (586) 215-3155a call, or you can click here for more options to call or email and we will contact you right away.

Trending Macomb County Searches

  • Chesterfield Homes
  • Saint Clair Shores Homes
  • Harrison Township Homes
  • Sterling Heights Homes
  • Clinton Township Homes
  • Macomb Homes

Account Tools

  • Join Deal Alert

    Get New Properties & Price Update Alerts sent straight to your inbox

  • Favorites

    Login to manage your favorites, save listings & searches

  • Property Search

    Find Homes using the most powerful Search tool in Macomb County MI

  • FREE Home Valuation

    Find out the TRUE value of your home and what other homes in your neighborhood are selling for

Macomb County MI Homes for SaleMacomb County MI Homes for Sale

  • HOME
  • SEARCH
    • Advanced Search
    • Interactive Map Search
    • New Listing & Price Change Alerts
    • Newly Listed Homes
    • Upcoming Open Houses
    • Search by Listing ID
    • Search by Address
    • My Saved Properties
  • BUY
    • Why Buy with Us?
    • Join Deal Alert
  • SELL
    • What’s Your Home Worth?
    • Selling 101
    • Marketing Your Home
  • AREA
    • Chesterfield
    • Saint Clair Shores
    • Harrison Township
    • Sterling Heights
    • Clinton Township
    • Macomb
    • VIEW ALL
  • HOT
    • Our Featured Properties
    • Today’s Newest Listings
    • Upcoming Open Houses
  • SOLD
  • BLOG
  • ABOUT
    • Our Team
    • Client Reviews
    • Refer a Friend or Family Member
  • CONTACT
  • LOGIN/SIGNUP
SearchClose

What to Do if Your Appraisal Comes Back Low

What to Do if Your Appraisal Comes Back Low

When you sell a home in Macomb County, your buyer’s lender will most likely send and appraiser to determine how much it’s worth. But what if the appraisal comes back low? This guide tells you what to do.

What to Do if Your Appraisal Comes Back Low

Usually, people who want to take out a mortgage loan must pay for an appraiser to value the property they want to buy. Lenders require it because they want to ensure that they aren’t lending someone more money then a home is worth. From the lender’s standpoint, that makes a lot of sense: if the lender over-invests in a property, the buyer is more likely (statistically speaking) to default on payments down the road – especially if the home’s value doesn’t appreciate in the way the buyer thinks it should.

However, appraisals can turn out to be bad news for sellers – such as when the home appraises for less than what the seller is asking a buyer to pay for it.

So what should you do if your appraisal comes back low? Try these tips:

  1. Ask for a review
  2. Ask for a second appraisal
  3. Talk to your REALTOR® about how to proceed

Your real estate agent can give you more specific guidance, but in the meantime, here’s a closer look at each.

Low Appraisal Tip #1: Ask for a Review

You can work with your real estate agent to ask your buyer’s lender to take another look at the appraisal. Sometimes, appraisers miss things – they’re only human, after all. It may be possible to get the lender to ask the original appraiser to reevaluate their decision based on new information (that you and your REALTOR may be able to provide).

Related: What fixtures stay behind when you sell a home?

Low Appraisal Tip #2: Ask for a Second Appraisal

Talk to your real estate agent about linking up with the lender to request a second appraisal. It may be easier than you think – but you do need to know that you may be on the hook for paying for it. Usually, appraisals cost between $300 and $500, so be prepared!

Quick Home Value

Low Appraisal Tip #3: Talk to Your REALTOR About How to Proceed

If you can’t get a fair appraisal and you believe that your home was improperly appraised, there may be other steps you can take. (Improperly appraised, in this case, doesn’t just mean the appraisal came back low; it really refers to discrimination and unfairness.) Those steps may include:

  • Filing a complaint with the local fair housing agency
  • Contacting the U.S. Department of Housing and Urban Development
  • Filing a complaint with the state appraisal board
  • Hiring an attorney who understands fair housing laws and how they apply in your situation

Though these steps aren’t going to give you an immediate remedy, they can help ensure that if an appraiser is a “bad apple,” the appropriate steps are taken so what happened to you doesn’t happen to others.

Related: How do you get your home ready for an appraisal?

Are You Buying or Selling a Home in Macomb County?

If you’re ready to find out how much your home is worth, call us at 586-648-1728 or get in touch with us online now. We’ll give you a free home valuation – no strings attached!

If you’re thinking about buying a home in Macomb County, explore the links below to learn about our communities and see listings right now. We update our listings every hour, so you always get access to the newest, hottest homes for sale in Macomb County.

Armada Center Line Chesterfield Eastpointe Fraser Harrison Township
Lenox Macomb County New Baltimore New Haven Roseville St. Clair Shores
Shelby Township Sterling Heights Troy Utica Warren Washington

 

 

 

Posted in: Real Estate Market Update, Sellers Tagged: What to Do if Your Appraisal Comes Back Low, Your Appraisal Comes Back Low

JOIN PROPERTY ALERT

Did you know the hottest homes for sale in Macomb County often sell within days of being listed? Don't miss out! Set up your own custom property alert so you can be notified of the newest homes as they hit the market! Simply click the button below and choose the qualities that you want most in a home and save your search to start getting alerts today!

JOIN PROPERTY ALERT

As local Macomb County Real Estate Agents we also have access to homes before they hit the market and can show you more homes and information that are only accessible in the MLS. If you would like to set up a time to go over your real estate needs, please free to contact us at your convenience. There is no obligation and or pressure... we hope to hear from you!

Post navigation

« What Stays Behind When You Sell Your Home?
5 Tips for Using Plants to Stage Your Home »

Contact Us Now

Fortuna & Associates Logo
 
SGP & Guess Choir Logo
 
Steven: (586) 883-3093
Brian: (586) 215-3155

info@billionsofhomes.com

63500 Georgetowne S Clinton Township, MI 48095

View Billionsofhomes.com on Google

5 Stars - Based on 86 User Reviews

Join Deal Alert

Get New Properties & Price Update Alerts sent straight to your inbox

Favorites

Login to manage your Favorites, Save Properties & Searches

Search Homes

Find Homes using the most powerful Search tool in Macomb County Michigan

FREE Home Valuation

Find out the TRUE value of your home and what other homes in your neighborhood are selling for

AREAS WE COVER

48047, 48051, 48035, 48038, 48047, 48044, 48042, 48081, 48080, 48082, 48310, 48312, 48313, 48314, Chesterfield, Clinton, Harrison, Macomb, Saint Clair Shores, Sterling Heights , View More

CONNECT WITH US

© 2023 · BILLIONSOFHOMES.COM · Macomb County Homes for Sale

Disclaimer - All Rights Reserved by Steven Piskorowski, Brian Ghesquiere, Jeni Barchichat (Agent License: 6501402468 | Company License: 22441185, NMLSR# 181763) · Macomb County Homes & Real Estate · Sitemap · IDX Sitemap · IDX XML Sitemap · Accessibility · Cookie Policy · Privacy Policy · Terms of Service · Disclaimer

Log in · Agent Office · Real Estate Website by Real Estate Websites by YourSiteNeedsMe.com