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What is an Appraisal Contingency?

What is an appraisal contingency in real estate? What do you do when your house is undervalued? Robert Rico defines an appraisal contingency and what this might mean for real estate agents. 🏠📝✅ Join our exam prep and real estate crash course: https://bit.ly/3NuSzz7 An appraisal contingency means the home buyer has the right to cancel the transaction if the house value is beneath the asking price. This protects the buyer from purchasing a house with an inflated price. However, what happens when the appraiser undervalues the house? How does your buyer respond? More importantly, how do YOU, the agent, respond? Robert Rico shows you what to do to go the extra mile for your client. Chapters: 00:00 - Introduction 01:12 - What is an Appraisal Contingency? 02:25 - What is an Appraisal Report? 03:30 - What to do when the house is undervalued 06:19 - Final Thoughts on the Appraisal Report #appraisalcontigency #appraisal #realestateterminology