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Heres why: When a traditional appraisal is waived, the lender determines the homes value using automated valuation models ( AVMs ) instead of an appraisers independent analysis. The lender’s valuation may aid them in the underwriting of the loan but it may not accurately reflect the marketvalue of the home.
Set it too low, and you may lose out on the true value of your property. A pre-listing appraisal performed by a professional appraiser can provide you with an unbiased and accurate assessment of your home’s marketvalue.
CoreLogic said the more typical figure for low appraisals in the U.S. housingmarket is 7% of all mutually accepted contracts. This is one of the rare moments when sellers and buyers are united in declaring their mutually agreed price is fair and accurate for today’s housingmarket.
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Appraisal Tips 
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