Newsflash: Equity as part of downpayment on 1st ever home purchase?

If during the financing process a buyer discovers the home appraises for $200k and the agreed upon sale price is $175k, can that $25k built-in equity be used towards the $35k required for a 20% down payment on $175k home sale price?

Read more at https://www.reddit.com/r/RealEstate/comments/6pkrh2/equity_as_part_of_downpayment_on_1st_ever_home/?utm_source=ifttt

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