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22. Understand the importance of appraisals
In order for your loan to fund, your home will need to appraise at or above value. If it appraises lower than the purchase amount, you'll either have to renegotiate or put in cash to cover the difference. Offers may be more attractive to sellers if you agree to pay set appraisal gaps ahead of time, but you may not want to put up cash for the difference.