How to Challenge an Appraisal (And When It Is Worth Trying)

The formal term is a Reconsideration of Value, or ROV. It's the process by which a lender asks the appraiser to take a second look at the property's value based on new information or a challenge to the original analysis. It is absolutely an option after a low appraisal, it's just not an easy one, and it succeeds less often than buyers hope.

Here's how to approach it without wasting your time or your attorney's.

Step 1: Read the Appraisal Report

You have a right to a copy under federal law. Read it carefully. Look for factual errors, wrong square footage, wrong number of bedrooms, wrong lot size, missing recent renovations. Errors like these are the strongest basis for an ROV because they're objectively wrong. If the appraiser listed your home as 2,100 square feet and the actual measurement is 2,400, you have a clear case.

Step 2: Analyze the Comparable Sales