Appraisal and inspection serve different purposes
The appraiser analyzes the subject property and relevant market evidence. A home inspector is engaged to help the buyer understand condition and systems. Buyers should not treat one as a replacement for the other.
When value is below the contract price
Possible paths can include reconsidering market evidence, renegotiating, increasing funds, changing structure or using contract rights. The available choices depend on the evidence, program, contract and buyer resources.
A reconsideration should identify relevant factual errors or market evidence rather than pressure the appraiser toward a desired number.
Plan for timing
Appraisal delivery can lead to questions, repairs or further review. Keep financing and appraisal deadlines visible and coordinate decisions with the appropriate real-estate and legal professionals.
Frequently asked questions
Can the buyer choose the appraiser?
Lender appraisal independence requirements generally prevent interested parties from improperly selecting or influencing the appraiser.
Does an appraisal guarantee the home has no defects?
No. It is not a comprehensive inspection or warranty of condition.
Claims in this guide were checked against the linked primary sources. Program guidelines can change; personal eligibility requires a complete application and review.