Appraisal came in 200k short.
Location : Bay area
Waived all contingencies

Appraiser did not use recent comps. We're appealing. Did account for appraisal gap but not by this much.

Please share recommendations for local lenders who can do 10 percent and can close quickly.

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Hey EY. Sorry to hear. Stressful but you will overcome.
I’m based in the Bay. What city is your deal?
Do you have an agent? Presumably they are all over this?
Ive been a broker for 7 years have seen this before. You have options. You’ll be okay but you do need to sort through your priorities. Appraisers can be garbage but try to understand the reason for the gap here. It might be BS or it could be legit. If the appraiser isn’t from here that’s an immediate flag, they often don’t understand our market.
I have some hard money lenders and conventional I can refer if you want to go that route. Is this primary home or investment deal? Other tactics possible depending on seller flexibility. How large is your deposit?
Feel free to DM me.


Wow 200k!!! I recently bought a place that appraised 30k below, we had a contingency in place with out lender ahead of time that our loan terms could remain the same.

Do you still have the opportunity to back out or did waiving the appraisal lock you in?


I used better mortgage and they have an appraisal guarantee clause that means even if the appraisal came in below (which it did) they would let us keep the same % down

Yikes. Don’t know anyone local but what was the price paid?

Hope the appeal works for you.

Close quickly will be the hard part but you can always just find something wrong and then back out that way during the inspection window….

Except no inspection window with all contingencies waived.


Hey. I’m a lender. Sending you a dm

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