Q & A: My Appraisal Came in Low, Can My Realtor Help?
Assuming that your purchase is in line with the market value of homes in the area, yes, an experienced Realtor could possibly help.
The first step is to take a good close look at the appraisal and check to see if the comparable properties used by the appraiser are good choices compared to any other possible comps for the area.
Next, check that the appraiser used reasonable adjustments and had the correct facts about the comparable properties.
If either better comparables are available or if their are any erors in the comparable property facts, this can give a valid reason to contest the appraisal. The lender can order a new appraisal or possibly the appraiser may revise his original value.