3 Options if an Appraisal Comes Back Low

As a seller, what happens if the buyer's appraisal comes back lower than the negotiated sales price? You have a few options:

1. You can challenge it if your appraisal comes back too low. One option is to challenge the existing appraisal report. You do this by asking your real estate professional to put together a list of comparable homes that support your price, and then submit it to the appraiser. Make sure the listed comps do not already exist in the appraisal report.

2. Negotiate a happy medium with the buyer. Sit down with the buyer through your real estate professional and the buyer's real estate professional. Come to a happy medium for the sales process to move forward. Remember, you have a house you want to sell, and you clearly have a buyer who would like to buy the property, so why not try talking it out to see if you can come up with a happy plan?

3. Accept the low appraisal, and the buying process will continue as scheduled. Yes, it’s a lower valuation, but accepting that valuation moves the sale process forward and gets you on to the next chapter of your life.

I hope this information helps, but if you have any questions or need additional information, feel free to DM me, text me, or give me a call. I’m always happy to help.