By Bear Team Real Estate · Reviewed: July 2026
REVIEW NOTE: Licensed appraiser review required before launch.
The basics
An appraisal is an opinion of value prepared by a licensed appraiser, typically ordered by the lender in a financed purchase.
It differs from a real estate licensee's price opinion or a property-value consultation — only a licensed appraiser performs an appraisal.
When value and contract differ
When an appraisal comes in below contract price, options may include renegotiation, additional buyer funds, or contract remedies — each situation is specific and worth careful discussion.
This material is for general education only and is not legal, tax, lending, insurance, inspection, or appraisal advice. Consult the appropriate licensed professional about your situation.