Process & Closing
What happens if the appraisal comes in low?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
If the appraisal is below the contract price, you have options: renegotiate the price with the seller, cover the gap in cash, contest the appraisal with better comps, or — if your contract allows — walk away.
The lender lends against the lower of price or appraised value, so the gap must be resolved. We help you weigh the choices and, when warranted, challenge the appraisal.
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