Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed

In most cases, contesting the appraisal or asking for a new appraisal to be completed is unsuccessful.  When you contest an appraisal or ask for a new appraisal to be completed, you're theoretically saying that the bank appraiser was wrong with his report.  Successfully getting the appraiser to change his value or the lender allowing for a new appraisal to be completed will depend on the lender as well as the appraiser.

It's important that if you're going to attempt to contest a low appraisal, you have an experienced real estate agent selling your home.  An experienced real estate agent should know how to deal with low appraisals and know how to approach an appraiser and lender without offending them.

Reduce The Sale Price To Match The Appraised Value

While it's a tough pill to swallow for a seller, one of the most common scenarios that result from a low appraisal is the seller will agree to reduce the sale price to match the appraised value.  This isn't always possible for a seller though if they don't have much equity in their home and cannot afford to come out of their pocket to pay off their mortgage and pay their closing expenses.

Buyer Makes Up The Difference

Another scenario that may result from a low appraisal is the buyer will make up the difference at closing between the appraised value and the sale price.  This scenario is rare, similar to contesting an appraisal, since many buyers will not feel like they should pay more for a home than a bank appraiser determines it is worth.

Depending on your real estate market, it's more likely a buyer will be willing to make up the difference between the sale price and appraised value if they are buying a home that is located in a sellers market.  The lack of homes available for sale in a market is the primary reason a buyer would make up the difference as it could be months until they find another home that suits their needs.

Renegotiate/Meet In The Middle

Another likely result from a low bank appraisal is that a buyer and seller will renegotiate the original accepted offer.  This scenario is more likely to be successful than a buyer making up the difference or contesting an appraisal.  In essence, a buyer and seller would attempt to renegotiate the sale price to result in a sale price that would be acceptable for both the seller, the buyer, and the lender.

• An Interview With A Bank Appraiser via Imagine Your House
• How To Avoid A Low Home Appraisal via Bankrate
• A Guide To Home Appraisals via Selling Warner Robins

Peeling Paint

One of the most common repairs that is cited during an FHA appraisal relates to peeling paint.  Homes that are built prior to 1978 can possibly contain lead paint, which can be hazardous for many reasons.  A bank appraiser will visually inspect the condition of the interior walls, the exterior construction of the home, and the windows to ensure there is not peeling paint.

If peeling paint is cited in the banks appraisal, in most cases, the repairs must be completed prior to the bank approving the loan.  The only circumstance that would normally allow peeling paint to not be corrected prior to closing is if the subject property is located in a climate that does not allow for painting to be completed.

For example, during the recent sale of an Irondequoit, NY home, the bank appraiser indicated there was peeling paint on the exterior of the home that needed to be completed.  Since it was winter and the weather was not conducive to allow for exterior painting, the bank allowed money to be kept in an escrow account until the work was able to be completed in the spring time.  Typically, the bank will require one and a half times the estimated repairs be kept in the escrow account until they can verify the work has been completed.

Missing Handrails

Another repair that is cited by a bank appraiser is the lack of handrails.  Many mortgage products require that any set of steps that contain more than 3 must have a railing, as it can be considered a safety hazard.

It's also common that a bank appraisal will require a railing to be present on a deck or porch if there isn't one present.  This obviously is to prevent the possibility of someone falling off a deck or porch.

Broken Or Missing Windows/Glass

Broken windows and glass are another common repair that is cited in bank appraisals.  Bank appraisers normally will not go to the extent of checking the functionality of a window, however, they are looking to make sure the panes of glass are in good condition and not broken.  Bank appraisers will also ensure that there are no missing windows.

Roof Issues

One of the most expensive repairs on a home is replacing a roof.  There are tell-tale signs to know if a new roof is needed on a home or not.  Since the cost to replace a roof is significant, a bank appraiser will make sure the roof is in good condition.

It is common to see a bank appraiser question the condition of a roof in their appraisal report.  The majority of mortgage products will require that there is at least 3 years of life expectancy remaining on a roof.  If there is question as to whether or not a roof has this amount of time remaining, the bank appraiser will require that a "roof certification" is completed by a reputable roofing contractor prior to the closing that indicates there is at least 3 years of life remaining.

Inadequate Electrical System

The electrical system of a home is thoroughly inspected during the home inspection and often results in one of the most common home inspection findings.  There are however scenarios where a bank appraiser will cite an inadequate electrical system.

The most common reason why an electrical system is considered inadequate relates to the amperage of the electrical system.  While it's rare to see a home that still has fuses, it's even more rare to see a home that has a 60 AMP electrical system running into the home.  Most bank appraisers will require that a service upgrade is completed prior to closing as a 60 AMP electrical system can be a safety issue.  Inadequate electrical systems are one of the most common reasons why a home will fail a VA bank appraisal.

Non Functional Heating & Cooling System

During a bank appraisal the appraiser will verify that the heating and cooling systems seem to be in working order.  If a homes furnace is not functioning properly, it will be cited in the banks appraisal that it must be working prior to the mortgage being approved.  Similar to the cost to replace a roof, replacing a heating or cooling system can be expensive and the appraiser wants to ensure they are in working order.

Contest The Appraisal/Ask For New Appraisal To Be Completed