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The appraisal came in significantly lower than our offer price. Our lender won't finance the differe
AI Analysis Summary
The appraisal value is significantly lower than the agreed-upon offer price, and the buyer cannot cover the difference, jeopardizing the deal and their earnest money deposit.
Проблемы
Вопросы
5 вопросовWhat is the exact difference between your offer price and the appraised value? (ID: 1994)
The user provided a detailed response to this diagnostic question.
What is the loan-to-value (LTV) ratio required by your lender for this loan? (ID: 1995)
The user provided a detailed response to this diagnostic question.
Have you reviewed the appraisal report for any potential errors or omissions? (ID: 1996)
The user provided a detailed response to this diagnostic question.
What is the deadline for this contingency in your purchase agreement? (ID: 1997)
The user provided a detailed response to this diagnostic question.
Have you explored any options with your lender regarding the financing gap? (ID: 1998)
The user provided a detailed response to this diagnostic question.
Выявленные причины
4 причиныOvervalued Offer Price
75%The offer price was set too high relative to the current market conditions or the property's actual condition, leading to an appraisal that reflects a more realistic valuation.
Lender's Strict LTV Requirements
60%The lender has a strict loan-to-value (LTV) ratio requirement that cannot be met with the current appraised value and the buyer's available down payment.
Appraisal Discrepancies
50%The appraisal may contain errors, such as incorrect comparable sales (comps), miscalculations, or overlooking key property features, resulting in an artificially low valuation.
Market Downturn or Specific Property Issues
40%The local real estate market may have experienced a recent downturn, or the property itself might have significant issues that were not fully accounted for during the offer process, leading to a lower appraisal.
Авторитетные ресурсы
How to Handle a Low Home Appraisal - NerdWallet
NerdWallet provides a detailed breakdown of how to navigate a low appraisal. It covers understanding the appraisal report, exploring options with the seller, and considering alternative financing if necessary, offering a financially focused perspective.
What to do if your home appraisal is lower than your offer | Rocket Mortgage
Rocket Mortgage, a major lender, offers a clear explanation of what happens when an appraisal comes in low and what options are available to the buyer. This resource is helpful for understanding the lender's perspective and the typical next steps in the mortgage process.
Low Appraisal - Reddit r/realestate
The r/realestate subreddit is a community where individuals discuss various real estate topics. Searching for 'low appraisal' will yield numerous threads where people share their experiences, ask for advice, and offer solutions to similar situations, providing real-world perspectives and community support.
What to do when your home appraisal comes in low - Bankrate
Bankrate provides a comprehensive guide on dealing with a low appraisal. It outlines common reasons for a low appraisal and actionable steps buyers can take, including renegotiating the price, bringing more cash to closing, or challenging the appraisal.
Appraisal Came in Low - What Now? | BiggerPockets
This blog post from BiggerPockets, a popular real estate investing forum, offers practical advice and strategies for homeowners and investors facing a low appraisal. It covers options like negotiating with the seller, getting a second appraisal, and understanding the appraisal process.