As a seller, what to do with a low appraisal

[Heather R.]

Hello BP,

I am currently selling a property in Seattle that got bid up quite a bit over the ask price. Which is great! But I am not certain that it will appraise for that amount. I accepted an offer from a first time home buyer who might not be able to make up the entire difference if the appraisal comes in low.

Question: Is there any way to seller-finance the last portion for the buyer? For example, if they needed to make up 20k between the offer and the appraised value on which the bank will loan, can I give them a loan over several years? Or will the bank not allow this?

Any help is appreciated!

Heather

[Matthew Paul]

Its called a second , and yes . But you should have had this issue covered in the contract of sale .  Not contingent on apprasial  , or an all cash deal