3. An appraisal is a snapshot: Appraised values shift with market changes. Your home may be appraised at $150,000 today, but in two months when you refinance or list it for sale, the appraised value could be lower or higher.
4. Appraisals don’t factor in your personal issues: You may have a reason you must sell immediately, such as a job loss or transfer, which can affect the amount of money you’ll accept to complete the transaction in your time frame.
5. You can ask for a second opinion: If your home appraisal comes back at a value you believe is too low, you can request that a second appraisal be performed by a different appraiser. You will have to pay for it, but it may be worth it; or the appraisal may be accurate, and it may be a sign that you need to adjust your pricing or the size of the loan you’re refinancing (Houselogic 3/12/10).