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What happens when the appraised value is less than the contract price?

April 26, 2017appraised contract happens price value

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What happens when the appraised value is less than the contract price?

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There are a few options. You can pay the difference out of pocket. You could ask the VA for a reconsideration of value based on other comparable homes sold that were not included in the original appraisal. And or third the seller could also agree to lower the sales price to match the value.