Hello everyone.

I’m currently exploring the home-buying process and have a few questions about appraisals. What should I know about an appraisal for real estate? How does the appraiser determine the value, and what factors are most important in their assessment?

If the appraisal comes in below the purchase price, what options do I have? Should I renegotiate with the seller or consider other financing strategies? I’d appreciate any insights or experiences from those who have gone through this process.

Thanks for your help!