The appraisal contingency date is the date by which any claims made by the buyer as a result of a low appraisal must be made. Otherwise, the appraisal will have been deemed satisfactory by both parties and within the terms of the contract (and thus cannot be used as cause to walk away from the contract).
Not every contract will have an explicit appraisal contingency date, as many wrap this term into a financing contingency or loan contingency.
This document is a community edited guide, is not legal advice, and is subject to changes, modifications, and may contain inaccuracies or out-of-date information. As with any important financial transaction, consult a real estate professional and/or an attorney. See our terms of service for more information.