If the appraised value is lower than your offer, then your REALTOR should write up an addendum stating that the new purchase price will be based on the appraised value. The Asset Manager or the bank will agree on that anyways. Just make sure that you close your loan after they accept your new lower purchase price.

Good Luck, your REALTOR should know what he or she is doing.

You can try negotiating with the sellers to see if they will reduce the price. If not, you can pay the difference between the appraised value and your offer IF you really like this home and you have the resources to do so. Please feel free to call or email me anytime. Good Luck

Kamal Randhawa
Broker
510-932-1066