After you signed the contract did you sit down with the lender and go through the process to start getting a commitment from lender for purchase? Did you conduct a home inspection? Usually after the home inspection is done an appraisal is ordered. Did the lender state an appraisal was done? You really need to go back to the lender to get some of your questions answered.
Feel free to call me if I can help further - (302) 540-5373.