Appraisal Gap Clause – What is it?
What do you do if the home you are buying does not appraise high enough?
Sarasota Relocation Guide
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What is an appraisal gap clause?
If I’m buying a home, should I add one to my offer?
Or if I’m selling my home should I accept an offer with an appraisal gap clause?
The idea of an appraisal gap clause has been around for a long time in Real Estate but it’s not often been used. And yet we just put another home under contract, in part because the buyer included an appraisal gap clause. What is it?
An appraisal gap clause specifies how much over the appraised amount a buyer is willing to bring to the table and what the seller agrees to do if the agreed upon price is still not met, even with the extra cash.
Is it a good idea? Watch the video and find out! 🙂
#appraisalgapclause #sarasota #realestate
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We are Realtors in the Sarasota, Lakewood Ranch and Venice areas of sunny Florida.
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