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When the Appraisal Comes in Low (Your 4 Options and How to Decide)
The appraisal came in below your purchase price — don't panic. Michael walks through your four options for handling an appraisal gap and how to negotiate a solution without letting emotions drive a costly mistake.
Your 4 Options
Bring extra cash to closing — cover the gap yourself. Best when the gap is small and won't drain your savings.
Negotiate the price down — ask the seller to meet the appraised value. Works best in a buyer's market or when the seller is motivated.
Meet in the middle — split the difference. Often the most realistic solution for both sides.
Walk away — invoke your appraisal contingency and get your earnest money back. The right call when the gap is too large or the seller won't budge.
Next Episode
Episode 22: The Final Walk-Through — what to check before closing to make sure the home is in the condition you agreed to.
Subscribe to Money Moves with Michael so you never miss an episode.
This podcast is hosted by ZenCast.fm
View all episodes
By Michael ForneretteThe appraisal came in below your purchase price — don't panic. Michael walks through your four options for handling an appraisal gap and how to negotiate a solution without letting emotions drive a costly mistake.
Your 4 Options
Bring extra cash to closing — cover the gap yourself. Best when the gap is small and won't drain your savings.
Negotiate the price down — ask the seller to meet the appraised value. Works best in a buyer's market or when the seller is motivated.
Meet in the middle — split the difference. Often the most realistic solution for both sides.
Walk away — invoke your appraisal contingency and get your earnest money back. The right call when the gap is too large or the seller won't budge.
Next Episode
Episode 22: The Final Walk-Through — what to check before closing to make sure the home is in the condition you agreed to.
Subscribe to Money Moves with Michael so you never miss an episode.
This podcast is hosted by ZenCast.fm