What is an appraisal gap?? Simply put it is the difference between a purchase price and appraised value. This can come to issue when there are competing offers on a home and the purchase price ends up above asking price and at times above appraised value. The "gap" can be paid by the buyer as the lender will only finance on appraised value.
That is the simple version! Our team has over 30 years of combined experience helping folks buy and sell homes in the Denver Metro Areas. Call, text, or email today and we can get to work helping you.
Beth Johnson 303.919.6247 or Evelyn Brown 720.272.8302
Team of Ralston Creek Properties at RE/MAX Alliance