The Buyer's Guide: What you Should Know About the Appraisal Contingency
/Appraisal contingency. What is it, and how does it work? This is a contingency that protects lenders from lending on a property that is overvalued. If the appraisal comes in low, then the buyer would be responsible for closing the gap between that appraisal amount and what was offered. With the recent change to the RPA, buyers now have the option to keep the appraisal contingency up to a certain amount. Learn more about this in my latest video below:
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