Everything Happens in 3's, Right? Life seems to have a funny and not so funny way of that being so true. When it comes to selling real estate, same thing. When a home goes on the market, and offers start coming in, once the sale price is agreed upon with a buyer, that is the first step into the selling process.

Then comes inspection, the 2nd step. Now, yes, there are instances where say an investor is buying a home to totally redo and won't get an inspection. But, in most sales, a buyer is going to have the home inspected, and, if anything comes from the inspection that needs to be addressed, there will be a negotiation on who is going to cover what repairs.

The third one, is whatever happens with the appraisal if the appraisal comes up short. If, the agreed sale price is higher than what the appraised value comes back as, then there has to be some negotiation into if the buyer can cover the remanding cost, or if the seller is going to accept the appraised value. If the seller doesn't accept and the buyer won't or cannot make up the difference, then the sale is bust. This is why pricing a home correctly right off the bat is crucial in making the sale go through all the way to the end.

Have you had your home on the market before and the appraisal came back lower than the agreed upon sale price? What resulted from that?