What happens if a home appraises below the purchase price?
Appraised value, market value, and purchase price aren't always the same — and understanding the difference can be important for both buyers and sellers.
My new Michigan home appraisal guide explains appraisal gaps, why low appraisals happen, potential options when a property doesn't appraise, appraisal reconsiderations, and what buyers and sellers should consider before entering a transaction.
I also share insight from an actual Farmington Hills transaction where an appraisal challenge had to be addressed before my buyer could successfully reach closing.
Designed Living Real Estate serves buyers and sellers throughout Metro Detroit, including Oakland, Wayne, and Macomb counties.
Click “Learn More” to read the full guide.
