If the buyer is planning on financing the purchase then the lender will want to see the home appraise at least at the sales price in order for the lender to approve the mortgage.
Your option would be to lower the price to the appraised price in order to sell. If you cannot do this then perhaps you may wish to consider renting out your home until the market values rise in your area.
Good luck to you!
Prudential Connecticut Realty
Do you have a current mortgage on your home? If not, and you accept an offer on your home and the home doesn't appraise you have the option of dropping the price to the appraised value, negotiating with the buyer to split the difference or holding out for a 20% down payment buyer or cash buyer. If you're doing a short sale the lender would have to agree to the above conditions.
Karen Paytas, GRI, CMS
Real Living Kee Realty
.....of course, I am sure you have a great listing agent who already explained this to you, so I am curious why you are asking the question here. I am also curious why you are collecting offerS and not ratifying any contracts?