From Paying Up to Walking Away — Your Options For If The Appraisal Comes In Low
HomeLight
SEPTEMBER 1, 2022
The so-called appraisal gap began rising in frequency around July 2020, and by June 2021, there was a gap between sales price and appraised value in one-fifth of all home sales requiring financing. Your lender will use the lower amount between the purchase price and the appraised value to determine how much money they will lend.
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