What happens if my VA appraisal comes in low?
A low appraisal does not automatically lower the contract price. I can ask the seller to renegotiate, submit a supported Reconsideration of Value, review whether you want to bring cash for the gap, or use the VA escape clause under its terms.
What this actually means.
The seller must agree before the contract price changes. I can ask for a price reduction, submit meaningful comparable sales or factual corrections through a Reconsideration of Value, or review whether you want to bring cash for the gap. The VA escape clause protects your option not to proceed above VA's established value without forfeiting earnest money under its terms. Subject to VA guidelines.
Where this can move.
Property condition against MPRs, repair requirements, Tidewater process, and Reconsideration of Value can change the appraised value and timeline.
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Educational only. VA guidelines, lender overlays, rates, fees, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with the VA, HUD, or any government agency.