Vanguard Realty Associates

Vanguard Realty Associates


Appraisal Gap Strategies

Filed under Home Buyers on May 10,2022 | Tagged in: , ,

In today’s housing market, homes often sell for more than their appraised value. When this occurs an “appraisal gap”  often results, creating mortgage issues for the buyers.  That’s because a bank typically only lends funds based on the appraised value. So, for example, if you agree to buy a home for $400,000, but the property appraises for $375,000, there is a $25,000 appraisal gap.  You can be stuck making up the difference.

This article from offers strategies you can implement if you can’t come up with the extra funds. They include adding an appraisal gap clause to your offer, requesting an appraisal appeal or renegotiating with the seller. Of course, if you have an appraisal contingency, you can just walk away from the deal. Read the details here, so you’ll be prepared during your house hunt.

Another great way to be prepared is to have a professional team by your side. Vanguard Realty Associates is ready to guide you every step of the way.

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"I worked with Donna Brun for the past year to sell my home in Cold Point Manor. The real estate market has not be optimal for sellers. I have to share it was a pleasure to work with Donna. Her commitment and honesty were important to me. She cares about the work she does each day which I find so valuable and refreshing in business today. I would highly recommend Donna Brun to help you with your real estate needs." - Scott Passman

Scott Passman


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