What Happens If a Gulf Coast Property Doesn’t Appraise? Options for Buyers and Sellers
Posted by Meredith Folger Amon on
What Happens If a Property Doesn’t Appraise? Options for Buyers and Sellers
When buying or selling a home, the appraisal is one of the most important milestones in the transaction. Because lenders base their loan approval and terms on the appraised value—not the contract price—a low appraisal can create stress and uncertainty for everyone involved.
The good news? A low appraisal does not mean the deal is dead. Both buyers and sellers have several options to keep a transaction moving forward. Here’s what you need to know.
Why Appraisals Matter
An appraisal is a professional assessment of a property’s fair market value. Lenders use it to ensure they aren’t financing more than the home is worth. If the appraisal comes in at or above the…
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