Appraisal and repairs for sellers
After you accept an offer, two checkpoints can trigger changes: the buyer’s inspection and the lender’s appraisal. Here’s how each works and how to keep the deal on track.
How appraisal affects your sale
The lender orders an independent appraisal to confirm value. If it meets or exceeds the contract price, you proceed. If it comes in low, the buyer’s loan may limit what they can pay.
Options when appraisal is low
Negotiate a price reduction, ask the buyer to cover the gap, split the difference, or challenge the appraisal with better comps. Your agent will advise which path fits your market.
Repairs after inspection
Buyers may request repairs or credits for material defects. Focus on safety, structure, roof, HVAC, plumbing, and electrical. Cosmetic items are often negotiable.
Seller prep checklist
- Have receipts or permits for major work ready.
- Service HVAC and clean filters before showings.
- Fix simple items: leaks, loose handrails, missing GFCI covers.
- If crediting repairs, confirm lender allows it and cap amounts clearly.