# Low Appraisal When Selling a House in Connecticut: The Gap Math, Your Contract and Your Options (2026 Guide)

Source: https://webuyhousesinconnecticut.com/can-appraisals-affect-the-selling-price-on-a-house-in-connecticut/  
Author: Jerryll Noorden, owner of We Buy Houses In Connecticut, LLC ((203) 529-4712)  
Updated: 2026-10-25  
Facts checked: 2026-10-25

## The short answer

A low appraisal when selling a house in Connecticut means the buyer's lender will only lend against the lower value, so the buyer is short of cash at the contract price. The buyer can bring more money, renegotiate with you, ask the lender for a reconsideration of value, or cancel under the mortgage contingency if the contract allows. On a $335,000 contract appraised at $320,000, a 20%-down buyer needs about $12,000 more (illustrative). Cash sales have no appraisal.

Key takeaways

- **Yes, an appraisal can change your selling price.** When a buyer uses a mortgage, the lender lends on the lower of the contract price or the appraised value. A low appraisal leaves a gap someone has to cover. (Part of our guide to [how to sell a house in Connecticut](/how-do-i-sell-my-house-in-connecticut/).)

- **The gap is rarely all cash for the buyer.** On a $335,000 Manchester contract that appraises at $320,000, a buyer putting 20% down needs about $12,000 more cash, not $15,000 (example, illustrative).

- **Your five options:** the buyer covers the gap, you split it, you lower the price, the buyer asks the lender for a reconsideration of value, or the deal ends and you relist.

- **The mortgage contingency is the buyer's exit.** Most financed Connecticut contracts let the buyer cancel and recover the deposit if they cannot get a loan commitment by the contract date.

- **FHA and VA appraisals check condition too.** Peeling paint on a pre-1978 house, a leaking roof or a dead furnace can become a required repair before closing. Many Connecticut houses are old: 60% of Manchester's were built before 1960.

- **A cash sale has no appraisal.** No lender means no appraisal, no appraisal gap and no mortgage contingency, but the price is usually lower than a listing for a house in good shape.

## What happens when the appraisal comes in low when you sell a house in Connecticut?

When the appraisal comes in low when you sell a house in Connecticut, the buyer's lender will only lend against the lower appraised value, so the buyer is short of money to close at the contract price. Most contracts then give the buyer three choices: bring more cash, renegotiate the price with you, or cancel under the mortgage contingency and get the deposit back. Nothing changes automatically; it is a negotiation.

This guide is part of our series on [how to sell a house in Connecticut](/how-to-sell-a-house-in-connecticut/) and our page on [how the sale process works](/how-do-i-sell-my-house-in-connecticut/). It explains what an appraisal is, the gap math with real Manchester numbers, what your contract says, how to challenge a low value, why FHA and VA appraisals flag older Connecticut houses, and when skipping the appraisal entirely (a cash sale) is worth it, and when it is not.

First, three numbers that are easy to confuse:

- **Asking price**: what you list for.

- **Contract price**: what you and the buyer agree on in the signed contract.

- **Appraised value**: a licensed appraiser's opinion of market value, ordered by the buyer's lender to decide how much it will lend.

Your town's assessment is a fourth number and plays no part here; see [assessed value vs. market value in Connecticut](/market-value-vs-assessed-value-connecticut/) for why.

## Why does a low appraisal feel like such a blow?

A low appraisal feels like such a blow because it arrives after you think the house is sold. You may have packed, signed for your next home or told the family. Then a stranger's report says the house is worth less, and the buyer wants money back. Sellers often feel blindsided, insulted, anxious about the timeline and suspicious that the buyer or appraiser is gaming them.

Maybe you accepted $335,000 on a 1950s cape in Manchester after a weekend of showings, and three weeks later your agent calls: the appraisal came in at $320,000. The buyer's agent is asking you to drop the price. Your moving truck is booked. You are wondering whether the appraiser even went into the basement you just waterproofed.

It is normal to feel stuck between two fears: losing $15,000 by agreeing, and losing the whole sale, plus weeks of time, by refusing. It is also normal to feel embarrassed if the house had been on the market a while, or angry if you were told the price was "easily" supported.

This page is for you. It lays out the math, your real options and the order to try them in, so you can negotiate from facts instead of panic. And if the house has problems a lender will never accept, it explains the route that has no appraisal at all.

## What Connecticut and lender rules apply to a home appraisal?

The rules that apply to a home appraisal in a Connecticut sale come from three places: state law (appraisers must be certified or licensed under CGS 20-501), federal lending rules (appraiser independence, the buyer's right to a copy of the appraisal, and reconsideration-of-value procedures), and your purchase contract, whose mortgage contingency decides whether the buyer can walk away. Loan programs such as FHA and VA add property-condition standards.

| Rule | What it means in your sale | Source |
| --- | --- | --- |
| Appraiser credential | Only a certified or provisionally licensed appraiser may appraise real estate in Connecticut | CGS 20-501 (Department of Consumer Protection) |
| Appraiser independence | Nobody, including the agents and the lender's loan officer, may pressure the appraiser to hit a number | 15 U.S.C. 1639e; Regulation Z, 12 CFR 1026.42 |
| Buyer's copy | The lender must give the buyer a copy of the appraisal promptly, and at least three business days before closing | ECOA Valuations Rule, 12 CFR 1002.14 |
| Loan amount | Loan-to-value is figured on the lower of the price or the appraised value | Lender and agency guidelines (e.g., Fannie Mae Selling Guide) |
| Reconsideration of value (ROV) | The buyer can ask the lender to have the appraiser reconsider with new facts or sales. Federal regulators issued interagency ROV guidance in July 2024; Fannie Mae and Freddie Mac require lenders to have a borrower ROV process | Interagency Guidance on ROV (July 2024); Fannie Mae SEL-2024-03 |
| FHA condition standards | The house must be safe, sound and secure; the appraiser can require repairs, such as defective paint on pre-1978 homes | HUD Handbook 4000.1 |
| VA condition standards | VA minimum property requirements, checked by a VA-assigned appraiser | VA Lenders Handbook, chapter 12 |
| Mortgage contingency | The buyer may cancel and recover the deposit if a loan commitment is not obtained by the contract date | Your purchase contract (not a statute) |
| Who closes | Connecticut closings are conducted by attorneys; your attorney negotiates any amendment to the price | CGS 51-88a |

There is no Connecticut "appraisal law" for sellersNo Connecticut statute requires a seller to lower the price after a low appraisal. Whether the buyer can walk away, and keep the deposit, depends on the contract's mortgage and any appraisal clause. That is why the contract dates matter more than the appraisal itself.

## How does the appraisal gap math work?

The appraisal gap math works like this: the gap is the contract price minus the appraised value, but the extra cash the buyer needs is only the gap times the loan-to-value share. On a $335,000 contract that appraises at $320,000, the gap is $15,000. A buyer putting 20% down needs about $12,000 more cash; an FHA buyer putting 3.5% down needs about $14,475 more (example, illustrative).

**Example (illustrative), built from public numbers.** Manchester's median single-family sale price was $320,500 (Oct 2024 to Sep 2025, OPM data). Say you accept $335,000 for a well-kept cape, and the appraisal comes back at $320,000.

| Line | Conventional, 20% down | FHA, 3.5% down |
| --- | --- | --- |
| Contract price | $335,000 | $335,000 |
| Planned loan (on $335,000) | $268,000 | $323,275 |
| Loan after appraisal (on $320,000) | $256,000 | $308,800 |
| Buyer cash planned | $67,000 | $11,725 |
| Buyer cash now needed at $335,000 | $79,000 | $26,200 |
| Extra cash needed | $12,000 | $14,475 |

What it means for you as the seller:

- A buyer with 20% down and savings left over can often cover a gap this size. A first-time FHA buyer usually cannot: $14,475 more is more than they planned to bring in total.

- If you cut the price to $320,000, you lose $15,000 gross, but your commission (at 5%, est.) falls by $750 and your conveyance tax (1.00% in Manchester: 0.75% state plus 0.25% town, CGS 12-494) falls by $150. Your net drops by about $14,100.

- If you split the gap at $327,500, your net drops by about $7,050, and the buyer brings $4,500 more (20% down case).

Run your own version through the calculator: your price, the appraised value, your mortgage payoff and your town's conveyance rate.

## Can an appraisal really affect the selling price of your house?

An appraisal can really affect the selling price of your house when the buyer is financing, because it caps how much the lender will lend. It does not legally set the price; you and the buyer can still close at the contract price if the buyer covers the gap. But in practice a low appraisal often pulls the final price down, and it can end the sale. With a cash buyer, there is no lender appraisal at all.

An appraiser compares your house with recent nearby sales, adjusts for size, bedrooms, baths, lot, condition and updates, and reaches one opinion of value. In fast-moving markets, a contract signed after a bidding contest can run ahead of the closed sales the appraiser is allowed to use. In slower markets, a house priced on hope rather than on sales usually appraises low because it was priced high.

So the honest answer to "can appraisals affect the selling price on a house in Connecticut?" is yes, in a financed sale, the appraisal is the practical ceiling unless the buyer has extra cash. That is also why pricing from real comparable sales before you list is the best protection; see [why a house will not sell](/why-wont-my-house-sell-connecticut/) for the pricing side.

## What does the mortgage contingency in a Connecticut contract let the buyer do?

The mortgage contingency in a Connecticut contract usually lets the buyer cancel and get the deposit back if, despite applying in good faith, they cannot get a written loan commitment for the agreed amount by the contingency date. A low appraisal is one of the most common reasons a commitment falls short. After that date passes, or if the buyer waived the contingency, walking away usually puts the buyer's deposit at risk.

Connecticut purchase contracts are drafted by attorneys or come from Realtor-association forms, and the wording differs. Look for these terms with your attorney:

- **The commitment date.** The deadline for the buyer's written loan commitment. Watch it closely: once it passes without notice from the buyer, the contingency typically ends.

- **The loan amount and type.** If the contract says "a conventional loan of $268,000", a commitment for only $256,000 may let the buyer out.

- **An appraisal clause or appraisal gap clause.** Some contracts have a separate appraisal contingency; some buyers promise to cover a gap up to a set amount ("we will cover up to $10,000 over appraisal").

- **Notice requirements.** How and by when the buyer must tell you they are cancelling.

Ask earlyBefore you accept an offer, ask your agent how much cash the buyer has beyond the down payment, and whether they will write an appraisal gap promise. A slightly lower offer from a buyer with 20% down and reserves is often safer than a higher offer from a buyer stretching on a 3.5% down loan. Our guide to [comparing offers](/how-to-compare-offers-on-a-house-connecticut/) shows how to weigh this.

## What are your options when the appraisal comes in low?

Your options when the appraisal comes in low are: ask the buyer to cover the gap, split the gap, lower the price to the appraised value, have the buyer request a reconsideration of value from the lender, switch the buyer to a different loan or lender, or let the deal end and relist or sell another way. Which is best depends on the buyer's cash, your timeline, how strong the comparable sales are and how many other buyers you had.

| Option | Best when | Your net change (example) | Watch out for |
| --- | --- | --- | --- |
| Buyer covers the gap | Buyer has cash reserves or signed a gap promise | $0 | The buyer's lender must approve the extra down payment |
| Split the gap | Both sides want the deal; comps are mixed | About $7,050 less | Put the amendment in writing through the attorneys |
| Lower to appraised value | Few other buyers; the appraisal looks right | About $14,100 less | Do not cut further for inspection items in the same breath |
| Reconsideration of value | The appraiser missed sales, upgrades or facts | Unknown | Takes time; not guaranteed; only the buyer can ask the lender |
| Different loan or lender | FHA repair conditions, or a weak first appraisal | Unknown | A new appraisal can take weeks and may come in the same |
| Cancel and relist | You had other strong offers; the appraisal is clearly wrong | Time and carrying costs | The next buyer's appraiser may use the same sales |

A good order to try them in: first check whether the appraisal has factual errors (reconsideration); then ask what the buyer can bring; then decide between splitting and lowering. Cancelling is the last resort unless you have a backup buyer, because every extra month costs you taxes, insurance and utilities; see [the carrying costs of a house](/how-to-calculate-the-costs-to-hold-a-property-in-monroe-ct/).

## How do you challenge a low appraisal with a reconsideration of value?

You challenge a low appraisal through the buyer, because the appraisal belongs to the buyer's lender. The buyer files a reconsideration of value (ROV) request with the lender, with up to a handful of better comparable sales, corrections of factual errors and a list of upgrades. The lender reviews it and may send it to the appraiser. Federal regulators issued ROV guidance in July 2024, and Fannie Mae and Freddie Mac require lenders to offer this process.

- 

### Get the appraisal report

The buyer is entitled to a copy (12 CFR 1002.14). Ask your agent to request it from the buyer's agent so you can check it.

- 

### Check the facts first

Square footage, bedroom and bath count, a finished basement, a new roof, central air, the lot size. Factual errors are the most successful grounds for a change.

- 

### Find better comparable sales

Closed sales, similar in size, style and condition, close by and recent, ideally ones the appraiser did not use. For Fannie Mae and Freddie Mac loans, lender summaries describe one borrower-initiated ROV per appraisal with up to five new comparables.

- 

### The buyer submits it to the lender

Not to the appraiser directly. Appraiser-independence rules (15 U.S.C. 1639e) bar anyone from pressuring the appraiser, so keep it factual and polite.

- 

### Plan B in parallel

While the ROV is pending, agree with the buyer in writing what happens if the value does not change, and whether the commitment date needs extending. Your attorney drafts the amendment.

FHA's own 2024 ROV changes (Mortgagee Letter 2024-07) were later rescinded by HUD in 2025, so for an FHA loan ask the lender what process it follows now. VA has its own reconsideration process through the VA appraiser. A successful ROV is the exception, not the rule: if the appraiser used good, recent sales, expect the number to stand.

## Why do FHA and VA appraisals flag older Connecticut houses?

FHA and VA appraisals flag older Connecticut houses because those loan programs require the appraiser to check minimum property standards, not just value. Peeling or chipping paint on a house built before 1978, a leaking roof, a heating system that does not work, or a safety hazard can become a required repair before the loan closes. Connecticut's housing is old: in our town data, 60% of Manchester's homes and 78% of New Britain's were built before 1960.

Typical conditions on older houses:

- **Defective paint** on a pre-1978 house, inside or out, must be corrected under FHA rules (lead-safe work practices apply).

- **The roof** must keep water out and have some useful life left.

- **Heat** must work and be adequate; a dead boiler or an abandoned system is a problem.

- **Safety**: exposed wiring, missing stair rails or broken windows can be flagged.

- **Water and septic, basement water, and structure** may need a further inspection.

Connecticut adds its own issues: an old underground oil tank, a private well or septic, and in the northeast of the state, crumbling concrete foundations. Our guides on [oil tanks, septic, wells and radon](/oil-tank-septic-well-radon-selling-a-house-in-connecticut/) and [selling a house with a crumbling foundation](/selling-a-house-with-a-crumbling-foundation-in-connecticut/) cover those. If your house needs this kind of work, an FHA or VA buyer may simply not be able to close, which is when [selling a house that needs repairs](/sell-house-needs-repairs-connecticut/) as-is becomes the realistic route.

Conventional loans are less strict about condition, but the appraiser can still mark a house "subject to" repairs or note conditions that affect value. Our guide to [what to fix before selling](/what-to-fix-before-selling-a-house-in-connecticut/) helps you decide what to fix first.

## Why does a cash sale have no appraisal?

A cash sale has no appraisal because there is no lender. The appraisal exists to protect the bank's loan; a buyer paying with their own funds decides on the value themselves. That removes the appraisal gap, the mortgage contingency and lender repair conditions, which is why cash sales close faster and fail less often. The trade-off is price: a cash buyer prices in repairs and risk, so the offer is usually below a listing for a house in good shape.

Some financed buyers also get an appraisal waiver from their lender, but you cannot count on it. And "cash" should be real: ask for proof of funds, and check the buyer the way our guide on [how to check a cash home buyer](/how-to-check-a-cash-home-buyer-connecticut/) explains. For how cash buyers reach a number, see [cash house buyers in Connecticut](/cash-house-buyers-in-connecticut/).

## How can you protect your sale from a low appraisal before it happens?

You can protect your sale from a low appraisal by pricing from recent closed sales rather than hope, giving the appraiser a one-page list of upgrades and the sales that support your price, choosing a buyer with cash reserves or an appraisal gap promise, and keeping the house accessible and in good order on appraisal day. None of these guarantees the number, but each one reduces the chance of a gap.

- Price from closed sales in the last six months, not from active listings or online estimates.

- Prepare a one-page upgrade list with dates and costs: roof, windows, furnace or boiler, kitchen, bath, oil tank removal, waterproofing.

- Have your agent give the appraiser the comparable sales that support the price.

- Fix obvious FHA/VA items in advance if your likely buyers use those loans: peeling paint, missing rails, a dead heating zone.

- Make every room, the attic and the basement accessible on appraisal day.

- Prefer offers with a larger down payment, reserves or a written appraisal gap promise.

- Know your contract's commitment date and calendar it.

- Decide your bottom line before the appraisal arrives, so you are not deciding under pressure.

## Which route makes sense for you: renegotiate, relist or sell as-is?

Which route makes sense for you depends on the house and your timeline. If the house is in good shape and you had several interested buyers, renegotiate or relist; the market will likely pay close to the appraised value or more. If the appraisal flagged repairs a lender will not waive, or you cannot afford months more of waiting, an as-is cash sale removes the appraisal entirely, at a lower price you see in writing first.

#### Renegotiate and close

Keep this buyerBest when the gap is modest and the buyer is solid.

- Split or buyer covers
- Same timeline, small amendment
- Your attorney papers it

#### Relist

Test the market againFits when the appraisal looks wrong and demand is strong.

- Weeks to months more
- Carrying costs continue
- Next appraiser may agree with the first

#### Sell as-is for cash

About 2 weeks, or your dateFits when lender repair conditions or timing block a financed sale.

- No appraisal, no loan contingency
- No repairs, leave what you do not want
- Price below a fixed-up listing

### When you should NOT sell to a cash buyer

If your buyer can cover or split the gap, take that deal. If the house is in good condition and you had multiple offers, relisting will very likely net more than a cash offer. A low appraisal on a good house is a negotiation problem, not a reason to sell for less than the market will pay. We will tell you that if you call us.

A cash sale is worth comparing when an FHA or VA appraisal called for repairs you cannot fund, when the buyer's financing has collapsed twice, when your move date is fixed, or when the house has an issue (an oil tank, a foundation, a roof) that keeps failing lender reviews. Our page on [cash buyer vs. realtor in Connecticut](/cash-buyer-vs-realtor-connecticut/) sets out both nets side by side.

### How a sale to us works

- 

### Call or send the address

Tell us what the appraisal or inspection flagged. Share the report if you like; it helps us price honestly.

- 

### One walkthrough, as-is

No repairs, no cleaning, no second appraisal. We see the house once.

- 

### A written offer with the math

We show how we priced the repairs. The offer does not expire while you decide, and if renegotiating with your buyer nets you more, we will say so.

- 

### Attorneys handle the paperwork

If you are still under contract with a financed buyer, your attorney first makes sure that contract ends properly. We charge no fees and no commission.

- 

### Close in about two weeks

Or on the date you choose. Leave what you do not want.

From the closing tableWhen a seller calls me after a low appraisal, the first thing I ask is whether the buyer is still willing. Most of the time the best money is in keeping that buyer and splitting the difference. Where I can really help is the other case: an FHA appraisal that called for a new roof, paint and a boiler on an older house, and a buyer who cannot bring the cash. Then the question stops being the price and becomes whether the house can be financed at all.

I am Jerryll Noorden, and I have bought Connecticut houses since 2016. Call me at (203) 529-4712 for a second opinion on your appraisal situation; there is no obligation.

## Questions Connecticut sellers ask about appraisals

**Q: Can an appraisal affect the selling price of a house?**

An appraisal can affect the selling price of a house when the buyer uses a mortgage, because the lender lends on the lower of the price or the appraised value. A low appraisal often leads to a renegotiated price, unless the buyer covers the gap in cash.

**Q: What happens if the appraisal is lower than the offer?**

If the appraisal is lower than the offer, the buyer's loan shrinks and they need more cash to close. The buyer can pay the difference, ask you to lower or split the price, challenge the appraisal, or cancel under the mortgage contingency if the contract allows it.

**Q: Does the seller have to lower the price if the appraisal is low?**

The seller does not have to lower the price if the appraisal is low. No Connecticut law requires it. But if the buyer cannot cover the gap and the contract lets them cancel, refusing may end the sale, so compare the price cut with the cost and risk of relisting.

**Q: Can a buyer back out because of a low appraisal in Connecticut?**

A buyer can usually back out because of a low appraisal in Connecticut if the contract's mortgage contingency or appraisal clause is still in effect and they give proper notice. After the commitment date, or if they waived the contingency, backing out usually risks their deposit.

**Q: What is an appraisal gap?**

An appraisal gap is the difference between the contract price and the lower appraised value. On a $335,000 contract appraised at $320,000 the gap is $15,000. The buyer's extra cash is the gap times the loan percentage: about $12,000 with 20% down (illustrative).

**Q: What is an appraisal gap clause?**

An appraisal gap clause is a promise in the buyer's offer to pay a set amount above the appraised value, for example up to $10,000. It protects the seller against a small gap. Check that the buyer actually has the cash to honor it.

**Q: Can you dispute a low appraisal?**

You can dispute a low appraisal through the buyer, who asks the lender for a reconsideration of value with corrected facts and better comparable sales. Federal regulators issued guidance on this in July 2024. It works best when the appraiser made factual errors.

**Q: Who pays for the appraisal when selling a house?**

The buyer usually pays for the appraisal when selling a house, because the buyer's lender orders it. Sellers sometimes pay for their own pre-listing appraisal to help set the price, but the lender will not use it for the loan.

**Q: Can the seller see the buyer's appraisal?**

The seller has no automatic right to see the buyer's appraisal; the lender must give it to the buyer (12 CFR 1002.14). In practice, buyers often share it when asking for a price reduction. Ask for it before agreeing to any change.

**Q: Do cash buyers need an appraisal?**

Cash buyers do not need an appraisal, because there is no lender to require one. A cash buyer may order one for their own comfort, but there is no appraisal contingency unless the contract adds one.

**Q: Why do FHA appraisals require repairs?**

FHA appraisals require repairs because FHA loans must meet HUD's minimum property standards: the house must be safe, sound and secure. Defective paint on pre-1978 houses, roof leaks and non-working heat are common repair conditions.

**Q: How long does a reconsideration of value take?**

A reconsideration of value usually takes days to a couple of weeks, depending on the lender and appraiser. Agree with the buyer in writing on a deadline and what happens if the value does not change, and extend the commitment date if needed.

**Q: Does my town's assessed value affect the appraisal?**

Your town's assessed value does not set the appraisal. Appraisers use recent comparable sales. The assessment is 70% of value on the town's revaluation date (CGS 12-62a) and is often years out of date.

**Q: Should I get my own appraisal before listing?**

A pre-listing appraisal can help if your house is unusual or comparable sales are scarce, but it will not bind the buyer's lender. For most houses, a local agent's comparative market analysis based on recent closed sales is enough to price well.

## Related Connecticut guides

#### Price and offers

- [How to compare offers](/how-to-compare-offers-on-a-house-connecticut/)
- [Assessed vs. market value](/market-value-vs-assessed-value-connecticut/)
- [Why won't my house sell?](/why-wont-my-house-sell-connecticut/)
- [How long it takes to sell](/how-long-does-it-take-to-sell-a-house-in-connecticut/)

#### Condition problems

- [Selling a house that needs repairs](/sell-house-needs-repairs-connecticut/)
- [What to fix before selling](/what-to-fix-before-selling-a-house-in-connecticut/)
- [Oil tanks, septic, wells and radon](/oil-tank-septic-well-radon-selling-a-house-in-connecticut/)
- [Crumbling foundations](/selling-a-house-with-a-crumbling-foundation-in-connecticut/)

#### Your options

- [How to sell a house in Connecticut](/how-to-sell-a-house-in-connecticut/)
- [Cash buyer vs. realtor](/cash-buyer-vs-realtor-connecticut/)
- [Cash house buyers in Connecticut](/cash-house-buyers-in-connecticut/)
- [How to check a cash buyer](/how-to-check-a-cash-home-buyer-connecticut/)

We buy houses in [Manchester](/sell-my-house-manchester-ct/) and across Connecticut, including [New Britain](/sell-my-house-in-new-britain-ct/), [Hamden](/sell-my-house-in-hamden-ct/), [East Hartford](/sell-my-house-in-east-hartford-ct/), [Vernon](/we-buy-houses-in-vernon-ct/) and [Glastonbury](/sell-my-house-in-glastonbury-ct/). For the whole process, see [how to sell your house in Connecticut](/how-do-i-sell-my-house-in-connecticut/) step by step.

Plain-English information, not legal or lending advice. Examples are illustrative and built from public numbers. Read your own contract with your Connecticut attorney.

## Sources

- [CGS § 20-501](https://www.cga.ct.gov/current/pub/chap_400g.htm) (real estate appraiser certification in Connecticut).

- [CGS § 12-494](https://www.cga.ct.gov/current/pub/chap_223.htm) (conveyance tax rates).

- [CGS § 51-88a](https://www.cga.ct.gov/current/pub/chap_876.htm) (attorneys conduct real estate closings).

- [Regulation Z, 12 CFR 1026.42](https://www.consumerfinance.gov/rules-policy/regulations/1026/42/) (valuation independence).

- [Regulation B, 12 CFR 1002.14](https://www.consumerfinance.gov/rules-policy/regulations/1002/14/) (right to a copy of the appraisal).

- [Federal agencies finalize interagency guidance on reconsiderations of value](https://www.federalreserve.gov/newsevents/pressreleases/bcreg20240718a.htm) (July 18, 2024).

- [Fannie Mae, reconsideration of value requirements](https://singlefamily.fanniemae.com/media/39716/display).

- [HUD Mortgagee Letter 2025-08](https://www.hud.gov/sites/default/files/OCHCO/documents/2025-08hsgml.pdf) (rescinding ML 2024-07 and 2024-16).

- [HUD Single Family Housing Policy Handbook 4000.1](https://www.hud.gov/hud-partners/single-family-handbook-4000-1) (FHA minimum property requirements).

- [VA Lenders Handbook (M26-7), chapter 12](https://www.benefits.va.gov/warms/pam26_7.asp) (minimum property requirements).

- [Connecticut OPM real estate sales data](https://data.ct.gov/Housing-and-Development/Real-Estate-Sales-2001-2024-GL/5mzw-sjtu) on data.ct.gov (Manchester median, Oct 2024 to Sep 2025).