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How to bridge the appraisal
It happens from time to time. The home appraisal comes in LOW 📉😱
With how quickly this market is appreciating, comparable sales can be lagging, which causes what we call an “appraisal gap.”
What can you do in this situation?
IF YOU’RE A BUYER:
✅ Submit recent comps to your appraiser for consideration
✅ Add appraisal gap coverage to your offer
✅ Waive the appraisal contingency (in some cases)
IF YOU’RE A SELLER:
✅ Don’t accept an offer solely on price
✅ Look at a buyer’s mortgage qualifications
✅ Look at conditions – such as waived contingencies
