Why it matters to you
The lender lends against the appraised value, not your offer. If the appraisal comes in low, you'll need to cover the difference or renegotiate: that's an appraisal gap.
Related
infoGeneral information based on the standard Georgia REALTORS® purchase contract and public guidance. Your own contract decides: read it, and ask your agent or closing attorney about anything that matters. Not legal or financial advice.