Summary answer: An appraisal gap clause commits you to covering the difference in cash if the home appraises below your contract price. Given Oakton's 101.5% sale-to-list ratio and up to 52.9% of homes selling above list, gap coverage is genuinely relevant here, particularly on the most in-demand listings.
I'm Johnny with JQ Real Estate. Let me walk through when this actually applies to your specific offer.
How an appraisal gap clause actually works
| Scenario | What Happens |
|---|---|
| No clause, home appraises low | You can typically renegotiate or walk away |
| Clause up to $X, appraises $X below contract | You cover the gap in cash up to that amount |
A special consideration for VA buyers
Confirm with your lender exactly how VA's specific appraisal process interacts with any gap coverage you're offering.
Figure out the right number for your offer
Reach out and let's work through the real numbers before you write an offer.
For more Oakton buyer and seller questions, visit our Oakton real estate hub.