Understanding Appraisals and What to Do If Your Home Doesn’t Appraise for Its Purchase Price
It can be a bit of a surprise if your home turns out to be valued at less than the purchase price offered, but this is the type of thing that can occur in an appraisal situation. While this can change everything from your contract to the amount of your down payment if your home has been appraised at less than you envisioned, here are some options you may want to consider. Review The Appraisal Contingency Clause If an appraisal contingency clause is built into the terms of your contract, this means that the terms of your contract can be…