The Appraisal Gap Response

Help me handle an appraisal shortfall.

Contract price: [AMOUNT]
Appraised value: [AMOUNT]
Gap: [AMOUNT]
My client: [BUYER / SELLER]
Contract terms on appraisal: [DESCRIBE]
Both parties' motivation: [DESCRIBE]

Produce:
1. Options available, each with its consequence
2. What the data supports if we challenge the appraisal — using
   only comparables I supply
3. A reconsideration-of-value submission, if warranted
4. Negotiation positions for a split, a reduction, or a buyer
   contribution
5. How to explain this to a client who does not understand
   appraisals
6. What happens if nobody moves

Rules:
- Do not assert what the contract permits — mark as [REFER TO
  CONTRACT]
- Do not invent comparables
- Do not predict lender behaviour