Appraisal Guarantee vs. Appraisal Gap

What's the difference between an appraisal guarantee and appraisal gap? In today's housing market in which the offered price can go above the asking price, a gap between the appraised value and the contract price is happening more frequently. As a homebuyer, it's important to work with your real estate agent to understand what your options are in this situation.

If you are planning to buy or sell a home in Traverse City, Michigan, or the surrounding Grand Traverse Bay area, email me at ginny.fey@gmail.com and I'll be happy to answer any questions.