Protect yourself from low appraisal

[Leo Don]

hello BP, 

I am just curious to know how to structure a contact in order to protect yourself from low appraisal and also how to make seller responsible for fees associated with the appraisal cost in case they don't want to agree to adjust the price. 

I am aware as a buyer you can alway walk but however the appraisal cost that a buyer paid for an appraisal is there anyway to get recompensated for it?

Thanks for any inputs. 

[Andrew Syrios]

We had a situation where the appraisals on several properties we bought came in ridiculously low and it was because the appraiser never contacted us or asked for what repairs we did and just assumed none had been made (they were drive by appraisals). So in that case, we fought for a price reduction and the bank agreed to order new appraisals.

Usually though, there's not a lot that you can do. Just make sure if it's a refinance the appraiser knows all the work you did and any other notable information. Usually on purchases, if you're selling or buying for a reasonable price, the appraiser will bring it in about there. But there are exceptions, and unfortunately, that's just how it is, at least from what I know.