STR Purchase Appraisals
Understand appraisal ordering, timing, low valuations, price negotiations and the limits of appraisal-based equity.
Practical answers for buying and launching a short-term rental with BNB Accelerator. Updated September 30, 2026.
Who orders the appraisal?
The lender, the TC will make sure its ordered and proceeding.
Should appraisal happen before or after inspection?
Coordinate both with your lender and transaction coordinator. Reviewing inspection findings first may avoid paying for an appraisal on a property you decide to reject, but waiting too long can delay closing. The lender's requirements and contract deadlines control the schedule.
How long does an appraisal take?
Typically the whole process can take about 10 days depending on a variety of factors.
What happens if it comes in below purchase price?
Review the report with the lender and agent, then consider a price reduction, supported reconsideration of value, additional buyer cash or termination if the contract permits it. Update the pro forma before deciding. The seller is not required to match the appraisal.
What happens if it comes in above the purchase price?
The appraisal may support a value above your agreed price, but it is an opinion at a point in time. It does not guarantee resale proceeds, immediately available equity or a larger purchase loan. Confirm the lender's valuation and loan-to-value rules.
Does a high appraisal mean I can immediately access that equity?
No, the equity can only be accessed if you sell the home after closing or in some cases you may be able to borrow more against it in a HELOC.
Can the seller be forced to lower the price to appraisal value?
No, the seller has a choice at what the lowest price they will sell their home at is. Any price change needs a signed agreement from both parties.
Plan your next STR purchase
Discuss your budget, target markets and timeline with our acquisition team.