Wade
Home Buyer
Walnut, CA

I recently signed a contract to purchase a short sale property. When the appraisal was done, it came out $60,000 lower than the offered price. The reason was the appraiser did not include the enclosed patio, which
is approximately ~ 500 sq ft. The city record indicates there was a permit for the patio but not included to the
total square footage of the house.The listing agent did not disclosed the 500 sq ft is enclosed patio. we submitted the appraiser report for the bank to lower the price. I haven't heard from them. The escrow has been opened for about a month, and the contract I signed doesn't have any contingency, It just say " terms and conditions are Subject to lenders approval". It has been two weeks since I submit the negotiation price. My question is 1- What do the sellers bank decide, do you think they reject my offer? 2- Is it normal to take this long to say Yes or No? 3- Can I cancel the escrow because the seller did not respond to the addendum to " lower the price".