What happens if the appraisal comes back lower than the offer price?

What happens if the appraisal is lower than the offer? Now that spring is here, more buyers are going out looking to buy a home. But what happens if there are multiple offers on a house, you bid over the asking price, and the house doesn't appraise for the purchase price? Watch this video and learn how to protect yourself from overpaying on a house.
Timestamps
00:00 Intro
03:14 Scenario 1
03:53 Scenario 2
04:44 Scenario 3
05:22 Scenario 4
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