Why it matters
If the appraisal comes in low, you may need to renegotiate, pay the difference or walk away under your appraisal contingency.
What to do
- Respond quickly to every request from your lender.
- Do not open new credit, change jobs or make big purchases.
- If the appraisal is low, talk to your agent about options.
- Shop for homeowners insurance; your lender will need proof before closing.
Checklist
Ticks are saved on this device.
Common mistakes
- Buying furniture on credit before closing.
- Leaving insurance to the last day.
General information, not financial or legal advice. Rules vary by state; confirm with your lender, agent or attorney.
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