2. If the price seems right, then you can proceed with the purchase and then on the Purchase Contract there is a clause 4A.1 that states you can get your earnest money back if the lender has a problem with the appraisal not being high enough.
More questions - 817-471-0221
I also recommend contacting a Realtor for a comparable market analysis. Your Realtor can then help you make the decision to purchase, ask for a lower price or move forward to another home.
Good luck with your decision. If you need assistance, please give me a call, email or text.
Pamela McMahon, Realtor, CHMS, ABR, SFR
Newton Realty Group
What do you consider "current market conditions"?
Is your Landlord "distressed"?
Is it a Shortsale?
Do you recognize that the Market is going up?
Do you know what the Market Value of the home is?
A Realtor can answer these questions.
There are 2 ways that I can think of off of the top of my head you can check with Zillow, they track that information, or you can contact a Real Estate Agent. I would be happy to give you a CMA.
Keller Williams Realty