What Happens If My Manhasset Home Doesn’t Appraise?

An appraisal coming in low can feel stressful—but it doesn’t automatically mean your deal is dead. In Manhasset, appraisal issues happen occasionally, especially in fast-moving or low-inventory markets. Knowing what it means and what your options are helps you respond calmly and protect your sale.

What an Appraisal Means in a Manhasset Home Sale

If your buyer is financing the purchase, their lender orders an appraisal to confirm the home’s value supports the loan amount. The lender uses the appraisal—not the contract price—to decide how much they’re willing to lend.

In neighborhoods like Munsey Park, Plandome, Strathmore, Flower Hill, Plandome Heights, Plandome Manor, and North Strathmore, appraisals can be tricky because homes vary widely in condition, layout, and lot size—even on the same block.

Eric Berman REALTOR prepares sellers for this possibility early.

Why Appraisals Come in Low in Manhasset

Low appraisals aren’t always about your home—they’re often about timing and data.

Common reasons include:

• Limited recent comparable sales

• Rapid price increases

• Bidding wars pushing prices above recent comps

• Appraiser unfamiliarity with micro-neighborhood differences

• Unique homes that don’t compare easily

In strong markets, buyers may be willing to pay more than what recent data supports.

What Happens If the Appraisal Matches the Contract Price

If the appraisal comes in at or above the agreed price, the transaction moves forward without issue.

This is the most straightforward outcome—and the one Eric aims for through strategic pricing and preparation.

What Happens If the Appraisal Comes in Low

If the appraisal is lower than the contract price, several paths forward exist.

Option 1: Buyer Covers the Difference

The buyer may choose to bring additional cash to closing to cover the gap.

This is more common when:

• Buyer is highly motivated

• Buyer has strong cash reserves

• The home is unique or in a prime Manhasset location

Option 2: Renegotiation of Price

Buyer and seller may agree to lower the price to match the appraisal.

This often happens when:

• The gap is significant

• Buyer financing limits are firm

• Market conditions are softer

Eric helps negotiate strategically to minimize impact on your net proceeds.

Option 3: Split the Difference

Both parties agree to meet in the middle.

This can preserve the deal while sharing the financial adjustment.

Option 4: Appraisal Rebuttal or Review

If there are strong reasons to challenge the appraisal, a rebuttal may be submitted.

This may include:

• Better comparable sales

• Documentation of upgrades

• Errors in square footage or features

Eric works with buyer agents and attorneys to determine if a rebuttal is realistic.

Option 5: Deal Cancellation

If no agreement is reached, the buyer may walk away if they have an appraisal contingency.

While frustrating, this doesn’t mean your home won’t sell—especially in Manhasset’s high-demand neighborhoods.

How Likely Is a Low Appraisal in Manhasset?

It depends on:

• Market speed

• Inventory levels

• Price point

• Whether the home sold in a bidding situation

Homes priced strategically and supported by strong comps are less likely to face appraisal issues.

How Eric Berman REALTOR Helps Prevent Appraisal Problems

Eric takes proactive steps to reduce appraisal risk by:

• Pricing with appraisal data in mind

• Providing appraisers with strong comparable sales

• Highlighting upgrades and improvements

• Explaining neighborhood nuances

• Monitoring buyer financing strength

Preparation before the appraisal often makes the biggest difference.

What Sellers Should Not Do

If an appraisal comes in low, avoid:

• Reacting emotionally

• Refusing to consider options

• Assuming the deal is over

• Making rushed decisions

A calm, strategic response often saves the transaction.

The Big Picture

Appraisals are one step in the process—not a judgment of your home’s worth. In Manhasset, where demand is strong and inventory is limited, solutions are often available.

If your Manhasset home doesn’t appraise at the contract price, it doesn’t automatically mean the deal is lost. With guidance from Eric Berman REALTOR, you’ll understand your options clearly and choose the path that best protects your sale.

FAQs

What does it mean if my Manhasset home appraises low?
It means the lender values it below the contract price. Ask Eric Berman REALTOR what options make sense.

Can a buyer still move forward after a low appraisal?
Yes—buyers may bring extra cash or renegotiate. Contact Eric to discuss strategy.

Can an appraisal be challenged?
Sometimes, if there are strong supporting comps. Eric can review the appraisal.

Does a low appraisal hurt future buyers?
Not always—new buyers may have different financing or terms. Reach out to Eric.

How can I reduce appraisal risk before listing?
Accurate pricing and preparation help most. Request a pricing strategy from Eric.

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