Selling a house can feel like a long process of showings, inspections, paperwork, and negotiations. By the time closing day is on the calendar, most sellers are ready to hand over the keys and move on.
But one homeowner shared on Reddit that their sale took an unexpected turn just before the finish line. After negotiating with the buyers and preparing to close, they learned the home’s appraisal came in significantly below the agreed sale price, and the buyers wanted them to make up the difference.
The situation left the seller facing a difficult question: accept less money than expected, challenge the appraisal, or risk starting the selling process all over again.
The Seller Had Already Made Concessions
The homeowner explained that they were selling a house they had owned for more than 20 years. They listed it for $450,000, which they said was toward the higher end of the range suggested by comparable properties in their area.
The seller described their local housing market as competitive, with homes typically selling quickly. Even so, negotiations with the buyers had already reduced the amount they expected to receive by roughly $17,000 through a combination of price adjustments and closing-cost concessions.
After working through the buyers’ inspection requests, the seller believed the transaction was finally on track. A letter from the buyers’ lender indicated they were clear to close, and the seller was preparing for the scheduled signing.
Then Came Two Last-Minute Surprises
Two days before closing, the buyers’ agent asked for another week. According to the seller, the lender needed additional documentation about the source of the buyers’ funds.
The seller agreed to the extension, despite being surprised that another financing issue had surfaced so late in the process. Then, the day before the original closing date, the buyers’ agent delivered more unexpected news: the appraisal had come in almost $35,000 below the agreed purchase price.
The buyers asked the seller to cover the entire difference by lowering the sale price. Having already made concessions to keep the deal moving, the homeowner was frustrated by the prospect of giving up even more money just before closing.
Why a Low Appraisal Can Put a Sale at Risk
A buyer and seller may agree on what a home is worth, but a mortgage lender also considers an independent appraisal when deciding how much it will lend against the property.
If the appraisal comes in below the purchase price, the buyer may need to bring additional money to closing or ask the seller to reduce the price. The options available to both parties depend on the financing, the purchase agreement, and any applicable contingencies.
In this case, the seller believed comparable sales supported the agreed price. They acknowledged, however, that finding close comparisons was difficult because relatively few homes in their area had sold recently.
Their listing agent suggested challenging the appraisal using other comparable properties. The seller was unsure whether a review would make enough of a difference to save the deal.
Related: 15 Home Buying Mistakes That Can Turn Your Dream Home Into a Money Pit
The Buyers Returned With a Smaller Request
The seller’s spouse favored holding firm rather than offering another concession. The homeowner was less certain, weighing the cost of accepting a lower price against the possibility of putting the house back on the market and starting over with another buyer.
In an update to the Reddit post, the seller said they rejected the buyers’ request to cover the full appraisal gap. The buyers then came back asking for a $10,000 reduction instead.
The homeowner remained concerned about the appraisal timing and the additional questions about the buyers’ funds. Although the seller suspected the issues might be connected, the post does not establish what caused the delays or whether the transaction ultimately closed.
Related: They Were a Week From Closing on Their First Home — Then the Sellers Asked to Stay
What Other Home Sellers Can Learn
The Reddit post prompted different reactions. Some commenters encouraged the seller to walk away and relist the property, while others suggested reviewing the appraisal or trying to reach a compromise rather than abandoning a sale so close to completion.
For homeowners preparing to sell, the situation reminds them that a scheduled closing date does not guarantee every issue has been resolved. Ask your agent about the appraisal, the buyer’s financing status, and any outstanding contract deadlines before planning around the expected sale proceeds.
A low appraisal also does not automatically mean the seller must accept less money. Depending on the circumstances, the parties may be able to review the appraisal, renegotiate, explore other financing options, or end the transaction under the terms of their agreement.
For this homeowner, the biggest surprise was how much remained uncertain when the sale seemed almost finished. Even in the final days before closing, a home sale can still come down to a difficult financial decision.
