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Appraisal Contingency

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What is an Appraisal Contingency?

Let me begin with a quick explanation of what an appraisal contingency plan is.  An appraisal contingency allows you to terminate a legally binding contract if the appraised value is lower than the contract price. In the past, the appraisal contingency was the appraisal the bank ordered however, due to some recent changes in how properties are being valued this may be changing.

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