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Your Buyer’s Appraisal

If the appraisal on your home comes in under the agreed sales price, the buyer generally has to decide if they want to pay the difference in the sales price and appraisal price, or ask the seller if they are willing to sell the home for the appraised value or meet them in the middle. The buyers can also decide to cancel.

Depending on what type of loan the buyer is trying to obtain the appraisal could stick with home for up to 6 months. 
When an appraisal comes in low, it can be an issue because the lender will base your value on the LOWER of the sales price, or the appraisal value.
So you have the following options:
  1. Lower sales price to appraised value
  2. Buyer pays the difference at closing
IF THE APPRAISAL VALUE IS UNJUSTIFIABLY LOW, and the lender is willing to review the appraisal, new comps and evidence that may increase the value based on the evidence presented.

So there you go. Buyer can pay the difference in cash, seller can reduce price, or if the lender has a system which allows it, you can dispute the appraised value with the lender and/or their appraiser.
Every situation is different. If the buyer wants to the property and/or feels the appraisal is flawed, they may continue with the transaction. If there were multiple offers, their ability to negotiate a lower price with the seller is certainly diminished. If the property has had little activity when the offer was accepted, the buyer has more leverage. 
Every situation is different. If the buyer wants the property and/or feels the appraisal is flawed, they may continue with the transaction. If there were multiple offers, their ability to negotiate a lower price with the seller is certainly diminished. If the property has had little activity when the offer was accepted, the buyer has more leverage.
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VH Brokers Real Estate
5928 Mapleton Drive
Colorado Springs, CO 80918
719-884-1200
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  • Home Search
    • Featured Listings >
      • 1055 Wagon Wheel Ave.
      • 5911 Mapleton Drive
      • 5202 Tomah Cir.
      • 4908 Leland Pt
      • 1417 Tesla Dr
      • 6919 Thorn Brush WY
      • 214 Kilmer Court
      • 803 Tia Juana Street
      • 3135 Boot Hill Drive
      • 3667 Summer Breeze Drive
      • 7085 Stockwell Drive
    • Zip Codes >
      • 80903
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      • 80925
      • 80927
      • 80928
      • 80930
      • 80951
  • Buyers
    • Home Buying Process >
      • How To Choose A Home
      • Take Charge When Buying A Home!
      • Choosing a Neighborhood
      • Why Use A REALTOR® When Buying A Home?
      • Home Inspections
      • Making an Offer
  • Relocating
    • Colorado Springs
    • Community Information
  • Sellers
    • Home Selling Services >
      • Staging Consultations
      • Professional Photography
      • Virtual Tours and Weekly Traffic Reports
      • Internet Marketing
      • Mobile Flyer
    • Home Selling Process >
      • Showing & Feedback
      • Under Contract
      • Appraisal Issues
      • Inspection Objections
      • Sellers Closing Costs
      • The Closing
  • FAQS
  • Blog
  • Contact