How Do Appraisals Affect Home Sales in Manhasset?

Appraisals don’t usually decide whether a Manhasset home sells—but they can shape negotiations, timelines, and final outcomes. Understanding how appraisals work, when they matter most, and how to reduce risk helps sellers stay in control after going under contract.

What an Appraisal Is (and Why It Happens)

An appraisal is ordered by the buyer’s lender to confirm the home’s value supports the loan amount.

It is:

• A lender requirement

• Based on comparable sales and market data

• Focused on value, not emotion

It is not an opinion of beauty, design, or potential.

When Appraisals Matter Most

Appraisals have the biggest impact when:

• The buyer is financing the purchase

• Pricing is aggressive

• Comparable sales are limited

• The buyer is putting down a smaller down payment

Cash buyers or buyers with large down payments have more flexibility if an appraisal comes in low.

How Appraisers Determine Value in Manhasset

Appraisers typically consider:

• Recent closed sales, not active listings

• Location and neighborhood factors

• Lot size and basic layout

• Condition relative to comparables

• Market trends at the time of appraisal

They rely heavily on data. Presentation matters less than pricing context.

Why Appraisals Sometimes Come in Low

Low appraisals usually result from:

• Limited comparable sales

• Rapid market shifts

• Pricing ahead of recent data

• Unique homes that are hard to compare

A low appraisal does not automatically mean the price was “wrong,” but it does affect leverage.

What Happens If the Appraisal Comes in Low

If the appraised value is below the contract price, several outcomes are possible:

• Buyer brings additional cash

• Buyer and seller renegotiate price

• Seller offers a credit

• The deal is canceled under the appraisal contingency

The result depends on buyer strength and contract terms.

How Pricing Strategy Reduces Appraisal Risk

Smart pricing before listing helps:

• Anchor expectations to real data

• Align with recent sales

• Reduce lender pushback

• Keep negotiations focused

Many appraisal issues are created before the home ever hits the market.

When Sellers Should Hold Firm

Holding firm may make sense when:

• The buyer is well-qualified

• The down payment is strong

• Demand supports the price

• The appraisal is clearly conservative

Not every low appraisal requires a concession.

How Eric Berman REALTOR® Helps Sellers Navigate Appraisals

Eric supports Manhasset sellers by:

• Pricing with appraisal risk in mind

• Providing relevant comps to appraisers when appropriate

• Evaluating buyer flexibility before renegotiating

• Advising when to hold firm or adjust

• Keeping the deal moving forward calmly

The goal is protecting value without risking the transaction.

FAQs

Do appraisals often come in low in Manhasset?
Not often, but it can happen in fast-moving or low-inventory markets. Eric Berman REALTOR® can assess risk for your home here: https://www.theericbermanteam.com/contact-us

Can I challenge a low appraisal?
Sometimes, with strong supporting data. Eric Berman REALTOR® can help review options at https://www.theericbermanteam.com/contact-us

Does a low appraisal mean my home is overpriced?
Not necessarily. It often reflects limited data rather than true demand. Eric Berman REALTOR® can explain context here: https://www.theericbermanteam.com/contact-us

What happens if the buyer won’t cover the appraisal gap?
Negotiation or cancellation may follow, depending on the contract. Eric Berman REALTOR® can guide next steps at https://www.theericbermanteam.com/contact-us

How can I reduce appraisal risk before listing?
Thoughtful pricing and preparation help most. Eric Berman REALTOR® can help plan this at https://www.theericbermanteam.com/contact-us

Eric Berman, REALTOR®
Compass Greater NY
917-225-8596
eric@ericbermanre.com
www.theericbermanteam.com