Appraisal 101: How It Works and How to Prepare
An appraisal protects your lender — and you — by confirming a home is worth what you’ve agreed to pay for it.
What an appraiser looks at
Recent comparable sales, the home’s condition, lot size, and any upgrades or issues that affect value.
How to prepare as a seller
Have a list of recent upgrades and permits ready, and make sure the home is tidy and accessible for the appraisal visit.
What happens if the appraisal comes in low
Buyers and sellers have options — renegotiating price, the buyer covering the gap, or in some cases walking away, depending on the financing conditions in the offer.