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If the appraisal does come back low, it does need to be addressed, here<br />
are a few things that could happen:<br />
The buyer could agree to make up the difference between the<br />
appraised amount<br />
You could agree to lowering the sale price to the appraised amount<br />
A compromise from both parties, you lower the price a little and they<br />
put a little more down<br />
The appraisal could be contested, where we would supply additional<br />
comparables for the appraiser and lender to consider<br />
In some cases, an entirely new appraisal could be ordered<br />
There are many factors that will help us determine which method will<br />
work best. We will review and discuss together if this happens.<br />
Remember that this isn’t something that happens every time. This is<br />
simply a guide to allow you to be more prepared in advance if this were<br />
to occur. There is no need to stress about in advance about it.<br />
Eric Swails | Brookewood Realty<br />
207.358.0123 | eric@brookewood.com
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