Just because the home did not appraise doesn't mean it ends there. Go back to the bank, and provide a comprehensive package supporting your assertion. Include settled within the last 6 months. Call the listing agents to determine if there was any duress in the sale, or special features about the home, or a deficient condition that was not evident in the listing. Go to the tax assessments ans determine a price per square foot. Also use the rent multiplier approach, and give recent rental information. Lastly compare the comps property to property, such as this one had a fireplace, mine has additional square footage in the home and lot size. You have the right to appeal. Is this for a purchase or refinance? Lastly have another appraisal by another approved appraiser. P.S. If none settled within the last 6 months, use 1 year or go to the adjacent development or town. FYI, I always meet personally with the appraiser...yes we are allowed to do this per the new HVCC regulations, and provide a package with agreement of sale, comparables, and receipts for recent improvements made to the dwelling. Good luck.