Seller's Information for Appraiser provided to Buyer - Georgia 2025

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An appraisal contingency is a condition in a typical real estate contract that allows the potential buyer of the property to back out of the transaction if the property does not appraise at the purchase price.
Most homeowners, when they interact with an appraiser, its because theyre either buying or selling a property or perhaps refinancing their mortgage. If youre a seller, you almost never see the appraisal, unless the buyer wants to show it to you.
A lender uses an appraisal not only to assess the value of the property, but also to determine such things as your interest rate, required down payment, and whether you will be approved for the loan.
Yes, a buyer can back out after an appraisal, but whether they can do so without repercussions depends on the specific terms of the purchase agreement and the circumstances surrounding the appraisal. Here are a few scenarios to consider: Contingency Clauses: Many purchase agreements include an appraisal contingency.
Can sellers be present for an appraisal? Yes and its recommended. As the seller, you can be there when an appraiser conducts their walk-through.
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While the lender is technically the owner of the appraisal, as a home buyer you still have certain rights: You have the right to obtain your own appraisal, even if you are paying cash for a property. You have the right to know what type of valuation service is being ordered for your loan.

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