Frequently Asked
What happens if the home appraises below the offer price?
Quick Answer
If a buyer has an appraisal contingency, they can typically renegotiate the price or walk away if the home appraises below the agreed purchase price. Without that contingency, the buyer is contractually obligated to cover the shortfall in cash at closing. A middle-ground option is agreeing to cover a specific, capped appraisal gap amount rather than waiving the contingency entirely.
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