Appraisal gap and value issues
A low appraisal is common when demand is strong. You still have options. The goal is to close at a fair number with minimal delay.
Why appraisals come in low
- Lack of recent comparable sales at your price point.
- Rapidly changing market or unique property features.
- Condition notes that require repairs for loan approval.
Paths forward
- Buyer brings cash to cover part or all of the gap.
- Price adjustment that keeps both sides on track.
- Provide stronger comps or updates for a reconsideration.
Protect your net
- Review how your contract treats appraisal shortfalls.
- Weigh days on market if you return to active status.
- Stay factual and document any recent upgrades or permits.