HOME APPRAISAL
If you are seeking a loan to purchase the home you will need to have an appraisal performed by the bank to verify the home is worth the loan amount. Your lender will arrange for a third party appraiser to provide an opinion of value for the house you are buying.
APPRAISAL COMES IN AT OR ABOVE SALE PRICE
You are in the clear, and closing can be begin!
APPRAISAL COMES IN BELOW SALE PRICE
You could bring additional funds to bridge the gap between appraised value and contract price
You could offer to renegotiate with the seller
You could cancel the contract during the due diligence period
Made with FlippingBook flipbook maker