Has anyone sold a home since May of 2009???? The new rules on the appraisals are a nightmare. In the old world the banks use to get their own appraisers who would basicly come up with a price at or above the agreed upon selling price. Today - Banks/Loan officers have no direct interaction with the appraisers. The appraiser you get for a home in (Weymouth for example) could be from Vermont. It is a round robbin system that randomly assigns appraisers. A friend of mine had a multi family on the market in Quincy and he had it under agreement for $382,000. The appraiser came in at $328,000 You are allowed to challenge/contest (not sure of the wording) the price the appraiser came up with and only that appraiser can decide if he will adjust his appraisel figure. Your agent will submit similar homes in the area and their selling price to back up your argument that the appraisel should be higher. My fiend got the appraiser to come up from $328,00 to $337,000. To sell the house he would have had to drop the agreed upon price $45,000. He pulled the house off the market in hopes the market will turn around and drive the appraisel numbers higher. I am in the process of selling my parents home. My realtor told me the home was worth between $334,000 & $359,000 before it went on the market. I had to lower the price after a couple months and it finally went under agreement for $332,000 . I agreed to pay $2,350 towards a new roof (1/2 the cost). The purchase and sale number $329,650 The first appraiser came in with a number of $280,00 which was unbelievable. The home I am selling is 1712 SF on .60 acres. A house around the corner that is 1038 sf on .20 acres (both capes) sold recently for $315,000. The house I am selling is a full dormered (font & back) cape & the other home is not dormered. We were only able to get tha appraiser to come up to $288,000 . The problem was caused by short sales in the neighborhood. There was a house that was abandoned (pipes burst) that sold for $240,000. The appraisers only look at the SF & price of the other sales, they do not look at the condition of the home. The buyer was unable to get a loan because I would not drop my agreed upon price. The buyer then went with a FHA loan. FHA loans are still allowed to pick their own appraisers. The FHA appraiser came in at $331,000 I had to either accept $1,650 less or lose the sale of the home and start from scratch. The amount of the down pament has nothing to do with this process. You cannot get a loan unless the selling price matches or is less than the appraisers price. I know little about this process. I am only sharing my experience. Good Luck if you are selling !