Home Appraisal Guide
The appraisal is the lender’s independent estimate of a home’s value, and it can change the deal after you’re already under contract. These guides explain what an appraisal is, what happens when it comes in low, and how lenders approach property condition.
Last reviewed 2026-09-09
What is a home appraisal and how is it different from an inspection?
A home appraisal is the lender’s independent opinion of a property’s market value, used to evaluate whether the purchase price is supported for financing purposes. A home inspection, by contrast, evaluates the property’s physical condition and needed repairs. They answer different questions: an appraisal asks what the home is worth, while an inspection asks what is wrong with it. When an appraisal comes in below the purchase price, the difference is called an appraisal gap, and how it is handled depends on the contract, the appraisal contingency, financing and negotiation.
Appraisal Guidance
What to do at every step, from before the offer to after the appraisal comes in.
What Is an Appraisal Gap?
The difference between the purchase price and appraised value, and how to negotiate it.
What Happens if the Home Appraisal Comes in Low?
A low appraisal does not automatically kill the sale. Here are the options.
Can a Lender Require Repairs Before Closing?
Why FHA, VA and conventional lenders may require certain property conditions.
Appraisal Tools & Resources
Appraisal Gap Calculator
Model the gap and what you might cover.
GuideAppraisal vs. Home Inspection
Two very different processes, both worth understanding.
GuideWhat Is a Comparative Market Analysis?
How sold comparables support a price.
GuideFHA Appraisal Guide
Why FHA appraisals may flag property condition.
GuideVA Appraisal vs. Home Inspection
What the VA appraiser looks at.
GuideGet My Home Value
A starting estimate, not an appraisal.
GuideProperty DNA
Free property research layer, not an appraisal.
An appraisal is an opinion of value and can contain errors or debatable judgments. A reconsideration of value is a process, not a demand, and lenders and loan programs control which, if any, repairs are required. An "as-is" listing does not force a lender to ignore property requirements. Property DNA is research data, not an appraisal, flood determination, survey, zoning verification or inspection. Lisa does not predict or set appraised value; appraisers determine appraised value and lenders determine financing.
Before you promise to cover an appraisal gap, understand the market.
Lisa can evaluate comparable sales before the offer and explain the real-estate risk of aggressive appraisal-gap terms, then negotiate from market evidence rather than emotion.