{"id":233355,"date":"2024-07-08T08:13:05","date_gmt":"2024-07-08T08:13:05","guid":{"rendered":"https:\/\/namso-gen.co\/blog\/?p=233355"},"modified":"2024-07-08T08:13:05","modified_gmt":"2024-07-08T08:13:05","slug":"what-happens-if-you-don%ca%bct-have-an-appraisal-contingency-2","status":"publish","type":"post","link":"https:\/\/namso-gen.co\/blog\/what-happens-if-you-don%ca%bct-have-an-appraisal-contingency-2\/","title":{"rendered":"What happens if you don\u02bct have an appraisal contingency?"},"content":{"rendered":"

When buying a home, an appraisal contingency is a clause in the contract that allows you to back out of the deal if the home doesn’t appraise for the agreed-upon purchase price. Without this contingency, you could be at risk of losing your earnest money or being forced to make up the difference in cash if the appraisal comes in lower than expected.<\/p>\n

So, what happens if you don’t have an appraisal contingency?<\/b> Without an appraisal contingency, you may be obligated to purchase the home at the contract price even if the appraisal comes in lower. This means you could end up paying more for the home than it’s worth, or risk losing your earnest money if you decide to back out of the deal.<\/p>\n

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