Appraisal Gaps in West Michigan: What Buyers and Sellers Do When They Happen
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By Luke Bouman | Luke Bouman Real Estate Team | August 2026
In a competitive market with limited inventory, appraisal gaps are one of the most common surprises buyers and sellers run into, and one of the least understood. When a home appraises for less than the agreed price, the deal does not automatically fall apart, but somebody has to solve the difference. Here is how appraisal gaps work in West Michigan and how experienced buyers and sellers handle them.
Why Appraisal Gaps Happen Here
An appraisal gap occurs when the lender's appraisal comes in below the contract price. In a fast market with tight inventory, buyers competing for scarce homes sometimes offer above recent comparable sales, and appraisals, which lean on those comps, can lag…
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