In the event an appraisal comes back lower than the buyback price, Divvy offers comprehensive support to contest the appraisal:
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Review of Appraisal Report: Divvy will thoroughly examine the lender’s appraisal report to understand the basis of the low valuation.
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Obtain Alternate Opinions: Divvy will engage other area appraisers to provide alternate appraisals, ensuring a broader perspective on the property’s value.
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Identify Discrepancies: Once both the original and alternate appraisal reports are in hand, Divvy will search for any discrepancies between them. This includes checking for any additional area comparables that might have been overlooked or any property value adjustments that may unfairly penalize the subject property.
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Formal Appeal: If discrepancies or additional data points are found, Divvy will contact the lender directly to initiate a formal appeal of the appraisal results.
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Report Back: After the formal appeal process is completed, Divvy will report back to all parties involved with the final decision, ensuring transparency and keeping the resident informed throughout the process.
By following these steps, Divvy aims to ensure that the appraisal accurately reflects the property's true market value, providing residents with the best possible outcome.