What if the appraised value for the home you want to sell comes in lower than what the buyer agreed to pay. A lender will approve a mortgage for only the appraised amount.
Options include:
- Negotiate a price reduction with the seller to match the appraised value.
- Agree to pay extra cash to the lender to cover the difference between the appraised value and the purchase price.
- Appeal the appraisal and request a reconsideration. Ask your agent to provide supporting information on comparable sales data to help justify the sales price.
- If you have an appraisal contingency in the home purchase agreement, you can cancel the transaction without penalty.
Check out below to see what sold in Hills of Crestwood in August 2025:
17601 Rolling Woods Circle, Northville: 4 bedrooms, 3.1 bathrooms, 3,375 sq. feet, 3 car garage, Sold Price: $865,000
Hills of Crestwood Home Sold
August 2025
For more information on Hills of Crestwood, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.