The seller often does not generally get a copy of the appraisal, but they can request one. The CRES Risk Management legal advice team noted that an appraisal is material to a transaction and like a property inspection report for a purchase, it needs to be provided to the seller, whether or not the sale closes.

The simple answer to the question “are home appraisals confidential?” is yes but only parts of an appraisal report are considered to be confidential by appraisers.

The mortgage company owns the appraisal even though the borrower paid for it. This is because the mortgage company orders the appraisal on the borrower’s behalf, and the Appraiser lists that mortgage company on the report.

If an appraisal comes back low, a buyer can go back to the seller and negotiate a lower sale price. If the seller refuses, the buyer could end up walking away from the home completely. For the buyer and seller to both get what they want – a home that sells – the seller may seriously consider lowering the price.

You could also dispute a low appraisal by taking the following steps: Review the appraisal report for errors and inconsistencies, such as incorrect square footage or missing improvements. Verify that the appraisal report came from a local professional. Put your dispute in writing and submit it to your lender.

“Residential appraisers or small commercial appraisers could be sued for professional negligence. In those cases, the most likely claimant in a suit is likely to be the borrower.

Here are nine steps to dispute a low home appraisal:

1. Request a Copy of the Appraisal Report.
2. Check Every Detail of the Appraisal.
3. Contact Your Lender and Request a Value Appeal.
4. Provide Updated Comps.
5. Make Sure There Are No Missing Permits.
6. Point Out Upgrades and Improvements to the Appraiser.

Homeowners can appeal an appraisal, but before taking steps to do that they should find out if the buyer is willing to pay the higher price. Buyers who agree to pay the contract price will be willing to help make the case to their lender in favor of considering an appraisal appeal, he said.

There is a reasonable basis to believe the original appraisal is flawed. Also, if there were any verifiable circumstances that may have tainted the appraisal process, for instance, conflicts of interest or undue influence, a second appraisal may be needed.

An appraisal is not the definitive market value of a home. The fair market value of a property is the price that a willing and knowledgeable buyer would pay to a willing and knowledgeable seller, when both parties are acting voluntarily and in their best interests. Appraisals can be very accurate or downright faulty.

Unless the amount of clutter begins to affect the structural condition of a home, it will not affect an appraisal. The cleanliness of a home also has no impact on the value. It is not uncommon for an appraiser to walk into a cluttered, messy home.