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What if a home appraises for more than the offer?

I'm worried the home will appraise for more than what I offered. The seller agreed to the offer and we both seem fine with it. But if the appraisal is more than to the offer will I need to pay more to get the house?
Asked By Cameron | Marina del Rey, CA | 112 views | Buying | 1 month ago
Answer(6)
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Rising Star
15 Answers
Arlene Modarelli

Fathom Realty

The appraisal is confidential information that you paid for not the seller.
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Novice
7 Answers
CHRISTINE GARDNER

Berkshire Hathaway Gross & Jansen

(53)

This is a wonderful issue, you have equity in the property!

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Novice
2 Answers
Rita Sutton

BHHS Select Properties, Troy, MO 63379

In my area, I do not share the appraised value with the seller/sellers agent when representing a buyer. The terms of the sale contract or amendments to it will determine the purchase price.
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Novice
1 Answer
Delta Guillory

Keller Williams Lake Charles

(2)

No, you do not have to pay more than you offered. The contract you and the seller signed is the agreement of the price even if the home appraises more than the offer price.
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Novice
1 Answer
Kelly Gonzalez

eXp Realty

(10)

Congratulations you have instant equity! Here in Texas only the buyer has access to the appraisal and knows how much it appraises for. We just tell the Seller that it met appraisal.
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Novice
1 Answer
Victoria Lyford

Weichert Realtors Team Metro

(12)

I never share the appraisal report with the sellers when I represent the buyers. I just say that the house appraised and we can move forward.

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