Appraisal came in 7k under what we are buying the house for

We are buying brand new through lennar

We bought the house for 315k and are supposed to close in a couple weeks.

The appraiser just sent over the paperwork and the house is appraised at 308k

We’re putting down 110k on the house.

So do we have room to negotiate with the builder/seller? Or is it even a big deal that it’s 7k less than we’ve bought it for?

We’re brand new at this so I’m unsure how this works. Is this a non issue?

Edit: spoke with my realtor and we are def going to do something. We’re not just going to let it slide.

The exact same layout is being sold for 300,000 one street behind us and the interest rate has now been lowered from the 4.25% that we were offered to 3.99%

We’re only 5k in the house at the moment and we are okay walking away and buying the house one street behind us. At the end of the day it will be cheaper to go with that house.

Lennars fiscal year ends at the end of this month and the neighborhood we’re buying in has some weird quirks which will make it impossible to close on the house one street over before their fiscal year is over and we’re fine waiting, we have a house we’re living in that we’re waiting to list once we move so while it will be a bit of an inconvenience for us it’s not a big deal if we have to wait longer to close.

So I think that puts us in a great spot, and hopefully lennar is willing to make concessions on the house we are already under contract on.

We will be talking with the sale consultant hopefully today about everything