Summary
When an appraiser requests comps before issuing a final value — known as a "tidewater" — the buyer's agent can pull supporting comps from RPR (or MARIS) and submit a justification letter signed by the buyer to influence the final opinion of value. Colin Welsh recovered a $24K under-appraisal to purchase price on his first deal using this process. Captured 2026-05-11 from a Jackie Poponi thread in #ask-artemis. Confirmed with Luebbers (lender).
What "Tidewater" Means
The appraiser has NOT issued a final value yet. Pre-finalization, the appraiser asks listing or buyer side for comps to see what might have been missed before locking the opinion of value. This is distinct from a post-appraisal Reconsideration of Value (ROV) — tidewater is earlier in the process and easier to influence.
Recognition signal: the appraiser asks for comps without first delivering a number. If you have a number and want it changed, that's an ROV, not a tidewater.
Who Owns the Submission
SOP says listing agent owns it. In practice, the buyer's agent often does it too because the buyer is the appraisal-paying party and has standing to request changes.
Buyer-side authority chain:
- Buyer is paying for the appraisal.
- Lender can share the appraisal with the buyer.
- Buyer's signature on the justification letter is what makes the comp submission carry weight.
Process
- Pull the "best" supporting comps from RPR (or MARIS via the agent's MLS access).
- Write a justification letter that explains why these comps support the purchase price — addresses, sale prices, condition matches, distance, time-on-market parallels.
- Buyer signs the letter (this gives the submission standing).
- Submit to the appraiser via the buyer or lender.
- Appraiser uses the comps to inform the final opinion of value.
Track Record
Colin Welsh's first deal (May 2026):
- Initial appraisal track was running $24K under purchase price.
- Submitted comp packet + buyer-signed justification letter.
- Final appraisal adjusted to match purchase price.
Colin's framing: "Appraisers love to be wrong" — implication being that a well-supported justification letter is often enough to move the number. The appraiser's incentive is to land on a defensible value; the comp packet gives them the cover to land where the contract is.
Letter Template
Colin Welsh has a tidewater comp-justification letter template he's emailing to agents on request as of 2026-05-11. TODO: Capture template into Training & Playbooks/ so it's reusable without going through Colin each time.
Why This Matters
- The team didn't have a documented tidewater playbook before this thread.
- Multiple agents will hit this in 2026 as appraisals tighten with rate volatility.
- One recovery ($24K on Colin's deal) more than pays for the documentation effort.
- The buyer-signature step is the part most agents miss — without it, the appraiser can dismiss the submission as "agent advocacy."
Related
- maris-data-operations — MARIS as alternative comp source if RPR is thin
- iris-tool-suite — IRIS CMA output is a strong supplemental comp packet attachment
- zhl-transfer-strategy — ZHL/Luebbers/Jacobson/Valerio/Ruff/Taylor are the lender contacts agents will run this through
- one-real-title — Title partner sees the final HUD/ALTA after appraisal lands