5 Legit Reasons to Back Out of a Home Purchase

2. Appraisal Issues

Low appraisals are another reason to back out of a home purchase. This happens when the appraised value is lower than the agreed purchase price. In case the seller doesn’t agree to bring the price down or the buyer doesn’t want to pay more, the lack of mutual agreement can convince the buyer to back out. Therefore, appraisal issues make buyers reconsider the home purchase.