inaccuracies

Appraisal Gap: When a Home’s Value Is Lower

Appraisal Gap: When a Home’s Value Is Lower

Sometimes your mortgage lender's appraiser says the house is worth less than you agreed to pay. This is known as an appraisal gap or a low appraisal. You may have to pay the difference in cash or renegotiate with the seller to keep the deal alive. What happens when the appraisal is lower than the offer? When facing an appraisal gap, you have the following options: Pay the difference in cash...

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