In negotiating a contract, once buyer and seller agree upon a price, the next real hurdle is the appraisal. Realtors finally exhale once that comes in since appraisals are so subjective. What happens if an appraisal comes in lower than the contract price?
Well the buyer's mortgage company won't lend more on the property than what the appraisal says the home is worth. There are basically three options - The seller could lower the price to mirror the appraisal, the buyer and seller can meet … (2 comments)
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Stephanie LeFew
Making Real Estate Easy for You-It's all about You
A recent study shows that sellers tend to overestimate the value of their homes by about 8%. 
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