Recovering from a Low Appraisal
An appraisal of $249,000? The home seller learns that his $300,000 asking price is much higher than the actual property value. If you are the buyer, this figure means that the amount you can finance on the property is much lower than you expected. An appraisal value that is considerably lower than what you have offered should be a red light — a warning that you may be paying too much for the property. So is the deal over? Is…