Perhaps if you have your agent turn in a short sale package that includes a new CMA that supports a more reasonable price and offer, this may help. Because banks can't pick appraisers by law, and perhaps the appraiser was out of town or out of state and made his appraisal based on his local market. So to nicely show them that "Hay, I know you were told this was the right price. But we did a CMA that is right her in town today and this is what we are getting that the pice should be." Help them help you and, as our high school teachers would say "sight your sources" when giving an offer.