A recent home in Celina was appraised by an independent appraiser for a lower amount than it is showing on the tax rolls. Can this be contested?

Asked by GARY MCALLISTER, College Station, TX Thu Apr 19, 2012

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T.E. & Naima…, Agent, Dallas, TX
Tue Apr 24, 2012
You can ask for an appraisal review, but otherwise it will stand. Worse, if the appraisal was for a loan guaranteed by FHA, the appraisal will persist uncontested for 180 days for anyone trying to use FHA.

Generally, an appraisal review will analyze the appraisal and give an opinion of its following USPAP rules. The value will not change; however, the appraisal may be rendered unacceptable by the lender if the rules weren't followed. In that case a new appraisal would supplant the old one.

Ask your Realtor about having some appraisal review work done.
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Brian Rayl, Agent, Dallas, TX
Fri Apr 20, 2012
Homebuyer, (seller in this case),

The problem with using tax valuation is one thing: Did an appraiser ever come out to your house to do the tax appraisal? The answer is no. They use a system where they value everything virtually the same based off of their information.

Your real estate agent as well as the buyers agent should have printed out numerous comparible properties to provide to the appraiser. Did your agent or the buyer agent meet with the appraiser and give them this information?

If the foreclosures are in your neighborhood and are comparible to your property, then yes the appraiser has every right to use these homes. However, you said that your home has had multiple upgrades so I would then ask if either your agent or the buyers agent printed out the photographs of the sold foreclosures and provided those to the appraiser. Condition of the property is an important aspect of an appraisal.

You have every right to dispute the appraisal. Often what happens is they will go back to the appraiser and tell him that you are disputing the appraisal based on what ever reason you give. You (and your agent) have to provide these comps and pictures now to the bank with a detailed statement as to why you are disputing the appraisal, why you feel that the comps that the appraiser used were not appropriate for your home, and why these other comps that justify a higher price would be more appropriate. They then ask the appraiser to review the information and then give a second opinion.

A dispute can be resolved very quickly, or it can take a lot of time. If the appraiser stands by his original valuation, you might be out of luck, especially if this is an FHA loan.

Sorry for the bad luck, but tax value is almost ALWAYS incorrect anyways. I hope you were not using that as your basis for a selling price. Surely your agent pulled the comparibles for you, right?
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GARY MCALLIS…, Home Seller, College Station, TX
Thu Apr 19, 2012
I am trying to sell this home and the appraiser lived 70 miles away. He compared our home to the multiple forclosures in the area. Can he do this? They buyer is the one borrowing the money to buy this home and is just as upset as we are.
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The buyer can request/demand a second appraisal. Hopefully it will be better the second time around.
Flag Wed Apr 25, 2012
Elaine Harper, Agent, McKinney, TX
Thu Apr 19, 2012
If you are working with a Realtor, they should be able to assist in gathering comparable sales, and your lender should be be willing/open to challenge the appraisal.

You can reach me at 972.302.8327 for more details.
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GARY MCALLIS…, Home Seller, College Station, TX
Thu Apr 19, 2012
I would like to contest the appraised value due to the fact it appraised less than on tax rolls. It has numerous upgrades and is only 9 years old.
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Elaine Harper, Agent, McKinney, TX
Thu Apr 19, 2012
Are you contesting the appraised value or the tax value?
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