Just to clarify one thing...Actually, if the houses appraises LOWER than your accepted offer it is not always a bad thing for a buyer. It could be a very good thing. In fact, that has happened to some of our buyers and they were able to get the sellers to lower the price to the price the bank said it was worth, so it worked out as a last minute price reduction for the buyers. So appraising lower can be a good thing for a buyer too. But if the house you are buying is appraising higher than your accepted price it does not hurt. The seller has already agreed to your offer price, and the appraisal is really for your lender to make sure they (and you) are not getting into a loan that might not make sense. It would be hard for the seller to try to cancel based on this (a high appraisal) as it would almost always be a breach of contract.