Appraisal & Property
Appraisal Waivers and Reconsideration of Value
When a loan can skip the appraisal, and how to formally challenge a value you believe is wrong using a reconsideration of value.
Updated 2026-08-21| Applies to: Buyers and homeowners dealing with appraisal value questions.
The short answer
An appraisal waiver is an offer from the automated underwriting system to accept an estimated value without a full appraisal on qualifying low risk loans. A reconsideration of value is a formal, evidence based request asking the appraiser to review specific comparable sales or factual errors.
Appraisal waivers
Waivers are offered by the automated system, not by your loan officer, and depend on property data, loan to value and program eligibility. They save time and money when offered, but they are not available on every loan and can be withdrawn if the file changes.
Reconsideration of value
A reconsideration is not an argument. It is a submission of specific evidence: comparable sales the appraiser did not use, factual corrections such as square footage or bedroom count, or documentation of improvements the report missed.
- 1.Read the report and identify factual errors first
- 2.Ask your agent for closed sales that are genuinely comparable, not just higher priced
- 3.Submit the request in writing through the lender, with addresses, dates and prices
- 4.Expect a written response, which may or may not change the value
If the value does not change
- Renegotiate the price or ask for a seller credit
- Bring additional funds to cover the gap
- Restructure the loan program or down payment
- Use an appraisal contingency to exit if the contract allows
Appraiser independence rules limit what a lender or agent can say to an appraiser. Evidence goes through the formal process.
Frequently Asked Questions
People also ask
Who pays for the appraisal?
The buyer typically pays, often up front. The report is ordered by the lender through an independent process.
Read: What Happens if the Appraisal Comes in LowIs an appraisal the same as a home inspection?
No. An appraisal establishes value for the lender and flags certain conditions. An inspection is a detailed review for your benefit as a buyer.
Read: Appraisal Repairs and Property Condition RequirementsHow often do closings get delayed?
Delays are common enough that most agents plan for them. Most are days, not weeks, when issues surface early.
Read: What Actually Slows Down a ClosingWho pays for the appraisal?
Typically the buyer, often collected up front, and it appears on your closing costs.
Read: How a Mortgage Appraisal WorksCan I request an appraisal waiver?
You cannot order one. A waiver is offered through automated underwriting when the loan, property and transaction data qualify, and it can be withdrawn if the file changes.
Read: Types of Mortgage Appraisals and Property ValuationsTerms used in this guide
- Appraisal
- An independent opinion of a property's market value, ordered by the lender and based largely on comparable sales.
- Comparable Sale
- A recently sold, similar property used to estimate value for an appraisal or pricing decision.
- Market Value
- The price a willing buyer and seller would agree to under normal conditions, estimated through comparable sales.
- Loan to Value
- The loan amount divided by the property value. A $200,000 loan on a $250,000 home is an 80% LTV.
Written by
Manny Oloyede, Mortgage Broker
NMLS #1824463 | Ultimate Mortgage Brokers LLC NMLS #2619461 | Licensed in OH | KY | NC | PA | SC | TN | TX
I have worked in mortgage lending since 2018 out of the Akron / Cuyahoga Falls Branch, helping buyers, homeowners and investors across Northeast Ohio and every state where I am licensed. These guides reflect the questions I answer most often, written the way I would explain them on a call.
Keep reading
What Happens if the Appraisal Comes in Low
Why appraisals come in below the contract price, the five options buyers and sellers have, and how a reconsideration of value works.
Appraisal & PropertyHow a Mortgage Appraisal Works
Who orders the appraisal, what the appraiser looks at, how value is determined, and when a loan can close without a full appraisal.
Appraisal & PropertyAppraisal Repairs and Property Condition Requirements
Which property conditions trigger required repairs, how appraisal subject to repairs works, and what it means for older Northeast Ohio homes.
Problems & FixesWhat Actually Slows Down a Closing
The real reasons closings get pushed, ranked by how often they happen, and what buyers, sellers and agents can do about each one.
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