Frequently Asked Questions
What is a reconsideration of value?
A formal request, submitted through the lender, asking the appraiser to review their conclusion considering additional information — typically comparable sales or rental data they did not use.
Can I contact the appraiser directly?
No. Appraiser independence rules require communication through the lender or appraisal management company. Direct contact can compromise the appraisal.
What makes a reconsideration succeed?
Specific, verifiable data the appraiser did not consider — actual addresses, sale dates, prices or rents, and a clear explanation of why they are more comparable.
What does not work?
General disagreement, your own opinion of value, what the seller believes, or online estimates from consumer websites. None of these constitute appraisal-grade evidence.
How many comparables should I provide?
Typically three or more genuinely comparable properties. Quality matters far more than quantity — one excellent comparable beats five weak ones.
What makes a comparable strong?
Proximity to the subject, similar size and configuration, similar condition, and a recent closed sale. Active listings are weaker evidence than closed transactions.
Can I dispute the rent opinion the same way?
Yes, using rental comparables rather than sales. Documented recent leases for genuinely similar properties are the evidence that matters.
How long does a reconsideration take?
Commonly several business days to a couple of weeks, depending on the appraiser and management company. Factor it into your closing timeline.
Does requesting one delay my closing?
It can. If your timeline is tight, weigh the potential value change against the risk to your closing date and any rate lock.
What if the appraiser declines to change the value?
Then the original value stands. Your remaining options are covering the gap, renegotiating, or in limited cases discussing a second appraisal with the lender.
Can the lender order a second appraisal?
Some will under specific circumstances, particularly where identifiable errors exist. Most will not simply order another hoping for a different number.
Is there a cost to a reconsideration?
Usually not a separate fee, though a second full appraisal would be. Check with your lender.
What is a field review?
A review appraisal where a second appraiser evaluates the original report's methodology and conclusions. Lenders occasionally order one where a report appears deficient.
Should I always request a reconsideration on a low value?
Only if you have genuinely better data. Requesting one without new evidence wastes time and delays your closing without improving your position.
What if the appraiser made a factual error?
Factual errors — wrong square footage, missed bedroom, incorrect lot size — are the strongest basis for reconsideration and most likely to result in a change.
How do I find better comparables?
MLS data through your agent, county records, and for rentals, current listings and recently signed leases in the immediate area.
Does the seller's agent help?
They often have market knowledge and MLS access, and they have an interest in the deal closing. Their comparable suggestions can be useful, though verify independently.
Can I use comparables the appraiser rejected?
You can present them with an explanation of why they should be considered, though if the appraiser already evaluated and excluded them, the argument needs to be strong.
What is the realistic success rate?
Modest. Reconsiderations succeed when genuinely better data exists and fail when the original analysis was sound. Set expectations accordingly.
What is the best way to avoid needing one?
Understand the comparable sales and rents before you make an offer. If your assumptions exceed what recent transactions support, expect the appraisal to reflect that.
