Frequently Asked Questions (FAQs)

If the appraisal comes in lower than the asking price of a home, you have options. First, you can increase your down payment to make up for the difference in value vs. asking price. This may be beneficial if you’ve found your dream home, but be cautious about paying more for a home than what it’s worth. You can also use the low appraisal as a negotiating tool to see if the seller will lower their asking price. Lenders will not lend higher than the appraised value of the home, so if the appraisal comes in low, you may be in a good position to renegotiate.