What happens if my house is appraised for more than the asking price?

If your house is appraised for more than the asking or purchase price, then you’re in luck because nothing happens! In fact, you should pat yourself on the back for being such a good negotiator.

Neither you, the buyer, nor the seller will get any kind of reimbursement or the difference if the home is appraised for more than the purchase price. The value also applies only as of the report’s effective date (see how long a home appraisal report is valid).

Now, if your home appraises for less than the asking price, you have a different situation on your hands. Sellers who want their own number before setting a price can get an appraisal before selling.

As a side note, don’t go back to the seller to show them the appraisal, either. You might cause a situation where they think they got ripped off and will do something nasty, like not go through with the sale. An appraised value comes from recent comparable sales, which is why home appraisers do not rely on Zillow for it.