Can I ask for a second appraisal if the value seems inaccurate? – North Carolina

Short Answer

Sometimes, but it depends on why the appraisal exists and who ordered it. In a North Carolina financed home purchase or refinance, a lender typically controls the appraisal process and may allow a “reconsideration of value” before ordering a new appraisal. In certain court-supervised sale situations, a party can ask the court to order an independent appraisal, but the requesting party may have to pay the cost.

Understanding the Problem

In North Carolina real estate matters, this question usually means deciding whether a party can require a new opinion of value when an appraisal report seems wrong. The answer turns on the context: whether the appraisal is for a mortgage loan, a court-supervised sale, or another legal process. It also turns on who “owns” the appraisal process (often a lender or the court) and whether there is a formal way to challenge the value before a decision gets made.

Apply the Law

North Carolina law recognizes appraisals in several settings, but there is not one single statewide rule that guarantees a second appraisal in every transaction. In mortgage lending, federal rules and lender policies usually control whether a second appraisal can be ordered; North Carolina law mostly comes into play through licensing standards and court procedures when the appraisal is used as evidence. In court-supervised sales (such as certain foreclosure-related proceedings), a party can ask the court for an independent appraisal in specific situations, and the court can set who pays for it.

Key Requirements

Identify the forum that controls the appraisal: In a loan, the lender usually controls; in a court-supervised sale, the clerk/court controls; in other contexts, the controlling party depends on the process.
Show a specific reason the value may be wrong: A challenge works best when tied to verifiable issues (wrong square footage, missed renovations, incorrect comparable sales, math errors, or a flawed condition/quality rating), not just disagreement.
Use the allowed procedure before the decision point: Many processes have a “window” (for example, before loan underwriting is final, or before a sale is confirmed) when a review request or motion can be made.

What the Statutes Say

N.C. Gen. Stat. § 46A-84 (Independent appraisal in certain court-supervised sale challenges) – In a qualifying proceeding, and on request of a party, the court may order an independent appraisal by a licensed appraiser, with costs allocated among the requesting parties as the court decides.

Analysis

Apply the Rule to the Facts: Here, a value estimate for a house was sent and forwarded to the attorney handling the matter, with a plan to review it before any decision is made. That timing is helpful because most successful challenges happen before a lender issues a final loan decision or before a court enters a final order tied to value. The practical next step is to identify what process the appraisal is tied to (loan underwriting, settlement negotiations, or a court matter) and then use the procedure that process allows to request a review or a second appraisal.

Process & Timing

Who asks: The borrower/buyer/seller (through counsel) typically raises the issue, but the party who can order a new appraisal depends on the context. Where: For a mortgage appraisal, the request goes to the loan officer or the lender’s appraisal department (often through the lender’s appraisal management process). For a court-supervised sale, the request is filed in the case with the Clerk of Superior Court in the county where the case is pending. What: A written “reconsideration of value” request or a motion/request for an independent appraisal (case-specific). When: As soon as the factual issues are identified and before the lender’s final underwriting decision or the court’s final ruling tied to the sale/value.
Support the request: Provide concrete corrections (measurement documents, permits, contractor invoices, photos, a list of better comparable sales, or explanations of why selected comparables are not comparable). Keep the focus on objective data the reviewer/appraiser can verify.
Expect one of three outcomes: (1) the appraiser revises the report, (2) the lender/court rejects the request, or (3) a new independent appraisal is ordered or authorized (often with cost responsibility set in advance).

Exceptions & Pitfalls

“Second appraisal” is not always available on demand: In a typical loan transaction, a borrower usually cannot select a different appraiser just because the value is disappointing; the lender may require specific grounds to reopen the valuation.
New appraisal versus review: Many situations call first for a correction request or reconsideration (fixing errors and missed comps). Jumping straight to “order a new appraisal” can be denied if the first report meets standards.
Cost and delay risk: A second appraisal can add fees and time, and in a court setting the requesting party may be required to pay before the court rules. Planning for timing is important when closing dates or hearing dates are approaching.
Informal disputes without evidence: A general statement that the value “seems low” rarely works. A focused list of factual issues and better comparable sales is more likely to be considered.

Conclusion

Under North Carolina practice, a second appraisal is sometimes possible, but the right to get one depends on the setting and who controls the appraisal process. In mortgage lending, the lender usually decides whether to allow a reconsideration of value or a new appraisal. In certain court-supervised sale matters, the court may order an independent appraisal and can allocate the cost among the parties requesting it. Next step: submit a written request (through the lender or in the court file) before the decision tied to the appraisal becomes final.

Talk to a Real Estate Attorney

If a North Carolina appraisal seems inaccurate and the value affects a closing, negotiation, or court proceeding, our firm has experienced attorneys who can help explain the options and timelines for challenging the valuation. Call us today at (919) 341-7055.

Disclaimer: This article provides general information about North Carolina law based on the single question stated above. It is not legal advice for your specific situation and does not create an attorney-client relationship. Laws, procedures, and local practice can change and may vary by county. If you have a deadline, act promptly and speak with a licensed North Carolina attorney.