Is it good if appraisal is higher than purchase price? If A House Is Appraised Higher Than The Purchase Price, you’re in a good situation. It simply means that you’ve agreed to pay less than the home’s market value. Your mortgage amount does not change because the selling price will not increase to meet the appraisal value, and the seller doesn’t know what the appraised value is unless it comes in under value. In reality, when it comes to a normal “purchase and sale” situation, even you as a buyer probably won’t find out if your home is appraised at a “higher” amount than the purchase price. It’s almost like a pass/fail grade. You really only know if the appraisal comes in “low” compared to the amount you are borrowing to purchase the home. If that happens, there are ways to remedy the situation as well. Let me know if you would like more information on the home buying process, or if you are ready to start looking for your next dwelling!
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