Whether you are buying a new Broward County home, selling your home, or looking to refinance your home appraisal matters. In all of these situations, you will want the appraisal to come in at the sale price or higher, but should the Broward County appraised value be lower than you expected here are some suggestions for how to contest.
Low Broward County appraisals can happen. Take a breath and begin to execute a plan to appeal the home appraisal.
Request and review your home appraisal so you can understand what the situation is.
Your Broward County appraiser based your home appraisal off of a list of comparables so the best place to start when attempting to get your value revised to go through the comps and take notes on the key comp metrics such as: lot size, square footage, age of the home, etc.
Your local Broward County school districts can impact your home’s value as can homes found in your neighborhood. Verify to ensure that the homes used as comps for your home appraisal are both in your neighborhood and in your school district as comps located outside of these areas, especially if these areas have lesser-quality school systems and are in not as valuable home areas.
If as you review the list of the comps that were used to create your Broward County appraisal you find there are significant discrepancies between your home and the others be sure to keep track of, creating a list to refer back to.
If the appraiser was unable to find permits you had pulled for upgrades or additions then the that value cannot be factored into the final value assessment. So if you know you have the permits, or that the permits exist, do everything you can to uncover and provide.
If your Broward County home has a number of amenities that you feel merit consideration – think: hardwood floors, enviable location, upgraded bathrooms – be sure to highlight and draw attention to.
Once you have compiled your list, reach out to the appraiser and present your case as to why your home value should be reconsidered.
If you present your case and the appraiser does not revise, contact the bank or mortgage company that set up the appraiser and demand another appraiser visit the home.
If after all of this your Broward County appraisal does not reach the value you need you can always pay for a new appraisal. While a higher appraisal is not guaranteed, paying for this expense can be worth it if you have exhausted all other options.