What should Robin do after receiving an appraisal lower than the contracted purchase price?

After receiving an appraisal that is lower than the contracted purchase price, reviewing the appraisal report for accuracy is a critical and prudent step. This process involves examining the report in detail to ensure that the appraiser's conclusions are based on accurate data and methodologies. By scrutinizing the report, Robin can confirm whether all relevant factors were correctly considered, such as comparable sales, property condition, and location attributes.

If errors or omissions are identified, Robin might be able to address these issues with the appraiser or the lender effectively. This not only aids in understanding the current valuation but may also serve as a basis for discussions if there is a need to appeal the appraisal or provide additional information that could influence a revised value.

Taking the time to verify the accuracy of the appraisal report establishes a well-informed foundation for any subsequent actions, whether it involves negotiations or exploring further options in the buying process.