What Happens During an Appraisal
The appraiser visits the home, takes measurements and photos, and notes key features and upgrades. They then compare it to recent sales in the area (“comps”) to determine its current market value.
What to expect:
- Appraisals usually take 30–60 minutes
- The report is delivered to your lender within a few days
- You’ll receive a copy once it’s reviewed
If the value comes in low:
- You can renegotiate the price with the seller
- The seller can lower the price to meet the appraised value
- You can pay the difference in cash
- Or, request a second appraisal if justified
Pro Tip: Keep emotions out of it — low appraisals happen. The goal is to keep the deal balanced, not personal.
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