Our offer got accepted, then the appraisal came back $15k under

I mean, we were so excited after our offer got picked for this little bungalow in Tacoma, idk, we thought we were finally done. Then the appraisal report shows up last Thursday and the number is way lower than our offer. The lender basically said we either need to cover the gap in cash, which we don't have, or try to get the sellers to lower the price. We had to scramble and ask our agent to go back to them, and it was super awkward because they had other offers. It felt like the whole deal was going to fall apart over a number some guy wrote down after being in the house for 20 minutes. We ended up meeting in the middle after a really tense weekend of waiting. Has anyone else had to fight an appraisal like this? What did you say to the sellers to make it work?

2 comments

2 Comments

the_sarah1mo ago

Ugh, that waiting period is the absolute worst, isn't it? We had an appraisal come in low last year and I swear I lost five years off my life stressing. We ended up sending the appraiser a list of recent sales our agent pulled to argue it, which actually worked.

jakerivera1mo ago

Smart move, @the_sarah. Always fight a low appraisal.