What happens if the appraisal is lower than your offer? Here’s what N.J. real estate agents say. Updated 11:15 AM; Today 11:00 AM What do you do when the appraisal comes in lower than the offer?Patti Sapone | NJ Advance Media Facebook Share Home buyers in today’s seller’s market are battling through low inventory and stiff competition by taking on huge risks — including an appraisal contingency waiver. Mortgage lenders send an objective party, known as an appraiser, to look at the home and give it a value. And with the average price of a home in New Jersey rising $100,000 since last year, the appraised value is often coming in lower than the offer price.