What happens if the appraisal comes in low?

If the appraisal comes in below your offer price, you have several options. You can renegotiate with the seller to lower the price to the appraised value. You can bring extra cash to cover the difference between the appraised value and the purchase price, since your loan will only cover the appraised amount. You can meet somewhere in the middle, with you bringing some additional cash and the seller reducing the price. Or you can use your appraisal contingency if you included one to cancel the contract and get your earnest money back. The best path depends on the market, how much you want the home, and your financial flexibility. Jon can help you navigate the situation and negotiate the best outcome.