Lending institutions will consider appeals, but the seller must be able to provide them with evidence to prove the value of the appraisal should be greater.
Begin with looking over the appraisal for any possible errors. Do this with the help of your real estate agent. Be sure that the correct number of bedrooms and baths is noted and that the all-0important square footage is correct. If any errors are indeed discovered, then the seller will have grounds for an appeal.
Next, have your real estate agent take another look at look at the comparable prices in your area. Is the closest comparably-priced home next door to something which is undesirable? (A freeway, noisy intersection, etc.) If needed have your agent obtain some more realistic comparables to your property.
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