You have three options: contest the low appraisal with a formal rebuttal package of superior comparable sales submitted to the lender's review department, negotiate a midpoint concession using closing credits rather than reducing the recorded contract price, or reduce the price to the appraised value - the least favorable option. Always prepare a comp package before the appraisal to give the appraiser supporting data proactively.
From the seller playbook: Managing Appraisal Risk Post-Contract
This is general information, not legal, tax or accounting advice. Every situation is different. Talk to a licensed attorney, accountant or tax professional before you act.
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