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What happens if my home appraises for less than the offer?

By Bob Millaway, South Jersey Community Expert & REALTOR®

If the appraisal comes in low, you have several options: negotiate the price down with the seller, make up the difference in cash, challenge the appraisal if there are errors, or walk away if your contract has an appraisal contingency. Your agent can guide you through the best choice.

Why It Matters

An appraisal gap can derail a purchase if you are not prepared. Understanding your options ahead of time reduces stress.

Related Questions

What should I look for during an open house? How much should I save for a down payment? What are closing costs and how much are they? What loan options are available for first-time buyers? What questions should I ask my real estate agent when buying?

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