When an appraisal contingency is included in a sales contract, the buyer is agreeing to purchase your home as long as it appraises for the purchase price. Buyers may put an appraisal contingency in a contract because they are getting a mortgage, and their lender won't loan them more than a certain percentage of what the home is worth. Or they may put an appraisal contingency in the contract in order to make sure they don't end up overpaying even if they are paying cash for the home.
Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting