LeArquebusier t1_ja86tw0 wrote on February 27, 2023 at 3:52 PM

I'm under contract (FTHB 🥳) and a tad stressed about the appraisal coming in low. I ran some comps in the Henrico RE database and it wasn't returning much as high as our price/SF (about $270). I also felt like the results were incomplete i.e. some other houses we looked at did not show up in the list.

resident16 t1_ja94hiz wrote on February 27, 2023 at 7:28 PM

Appraisals almost always work out in the favor of the buyer. We ran into that same fear last summer when we bought our first home. In my opinion, the hardest part is done for you 🥹

BouncingWalrus t1_ja9thnr wrote on February 27, 2023 at 10:05 PM

This - ours came in at our offer price which was $150k over ask.

rattylight t1_ja8q15r wrote on February 27, 2023 at 5:57 PM

I don't have any advice to offer, but here to say that were in the same spot when we were under contract a couple years ago. I started having heart palpitations from the stress, until our appraisal came in right at our offer price. Congrats and good luck!

Lady-Meows-a-Lot t1_ja9r5ba wrote on February 27, 2023 at 9:50 PM

Last year, my MD home came in at exactly my offer, which was (gulp) about forty grand over asking.

LeArquebusier t1_jacdd43 wrote on February 28, 2023 at 12:41 PM

Thanks to all the reassuring stories here! The appraisal actually came in last night and it was at slightly above contract price. Feeling very relieved!