You should first have your listing agent complete a breker price opinion, use the most similar solds in the last 3 months and the most similar homes currently listed. They should then adjust for size, condition and any amenties you have or dont have that the comps do or dont have. this will show you what the market value for your home is. your price should be at or just below market value.
Please see my blog with advice on tips when it is time to lower the price of your home... more
Wow. Did you show up? I hate to say it, but appraisers are more likely to support you if they like you. There is a lot of arbitrary stuff in appraisals - it's opinions and guess work. Some are better than others. It's like that in all industries.
In any case; yes. If your agent is seasoned and resourceful he/she will guide you properly and will challenge the appraisal on your behalf. Even a seasoned agent may not change the minds of every appraiser, but if your agent supports your position, then yes, he/she can challenge it on your behalf.
But, not so fast - don't you have a contingency? Will the sellers lower the price to meet the appraiser? That would be better for you.... more
The questions are; can you afford to pay the difference out of pocket? Can you afford to stay in the home? I would advise waiting it out; unless you absolutely cannot afford your home anymore.
If you must list as a Short Sale; you will need not only an agent who has done short sales - but you will need a lot of luck. Short Sales are very difficult and do significant damage to your credit.... more