What happens if both appraisers cannot reach an agreement?

If both appraisers cannot reach an agreement, a mediator may be appointed to help resolve the dispute. This process involves bringing in a neutral third party who can facilitate communication and assist the appraisers in finding common ground or agreeing on a value. Mediation is often used in appraisal disagreements as it provides an opportunity for the parties involved to discuss their perspectives and address any misunderstandings without the need for a more formal adjudicative process. The mediator does not make a binding decision but helps guide the appraisers toward a resolution that all parties can accept, thereby fostering cooperation and maintaining a focus on achieving a fair outcome.