What happens when a home appraisal comes in low

A low appraisal changes the tone of the whole deal fast. Buyers start asking if they overpaid, sellers say the appraiser missed the upgrades, and both agents want a clean answer that usually does not exist. The report may be defensible, but nobody likes hearing that the market data does not support the contract price. When I am looking at it from the appraisal side, the hardest part is explaining…