Today I finished my first BPO for Advantage Valuation. They supplied me with a copy of an appraiser's report dated just over a week ago. I searched the MLS based on bedrooms, bathrooms, GLA, lot size, garage and on a canal with gulf access. It returned about 12 results listed or closed within the past 6 months. All of them were between $1.2 and $1.3 million. I determined the subject property to be worth just under $1.3 after a few minor adjustments. I read the appraiser's report and he has it as $2 million. I searched the MLS for the properties he used as comps and was unable to find activity on them in the past 3 years. Have you been in this situation? What did you do?

Recheck the comp data and submit the BPO.

Offer to review the Appraiser's Comps... I have often found that several out of area lenders use out of area appraisers... who do not know the market and often do not have access to the MLS.