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Help me understand the appraisal process

We were looking at building an addition to our house vs selling it and buying a bigger house. During the process, we looked at a home equity or refinance to fund the addition. The bank sent an appraiser out and he appraised our home for $130k.

On the other hand, our real estate agent ( we've spoken to 3) agree that we can sell it for about $150k. They aren't concerned with our previous appraisal amount.

Is a purchase appraisal going to be different than a refinance appraisal? I personally feel the $130k is low because we bought it for $134k 12 years ago and it's in better condition now than then. But I don't want to price it out of the realm of possibility, either.

Any insight would be great.

submitted by /u/JalapenoTampon
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source https://www.reddit.com/r/RealEstate/comments/cjbf0t/help_me_understand_the_appraisal_process/
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