What the lender may not admit is that their underwriting department has the right and ability to adjust how the appraisal results are used in determining the size of the loan the lender will extend to the buyers. If the lender is relying on a low appraisal and the buyers are unable or unwilling to put down more of their own cash, you will be faced with the need to alter the terms of the transaction, lower the price or cancel the deal.
You have options
You could agree to provide "seller financing" for the difference. This means you will not get the cash upfront, but you can earn a return on the money and will be paid when the house sells again. It is imperative that you consult with a real estate attorney (and probably a tax attorney) about this option. You could take back an "option" on the future sale of the house. This would provide that when in the future the house sells you get a portion of the proceeds. Again, it is imperative that you consult with a real estate attorney (and probably a tax attorney) about this option. You could suggest to the buyers that they sell a portion of the future appreciation on the house to a "shared equity" investor (such as Unison, Point, or HomeTap) and pay the resulting proceeds to you. You can try to sell the home again while giving the existing buyers a right of first refusal (which means if you get a better second offer they have x amount of time to match it or else give up their interest in the home). Never let the buyers and/or their agent convince you that this is your problem to solve. This is a shared problem.
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