I don;t give up easy....:)
We need to talk , please contact me when you get this.
Keller Williams Realty
Real Estate Consultant 3x US Army Vet.
Do you think the comps they used were appropriate or way off?
At this point you can:
1. Ask for appraisal review from you lender.
2. Ask the seller for price reduction.
3. Pay the difference in cash.
4. Meet the seller somewhere in the middle.
Remember if you are using FHA financing that appraisal stays with the house for 6months.
Sounds like you were in the right offer/price range though.
Many listing agents ACROSS the country list a home based on what the property owner tells them THAN true value of home . If I can't meet the property owners requirement to sell a home I DECLINE THE LISTING
As a professional Realtor when I represent a buyer I NEVER tender a sales offer UNLESS I know comp value which is almost 100% matches the appraised value.
Issues come up with some inexperience agents who not completed the due dlligence to sell a property.
IT does not matter where the appraiser from ? All Appraiser including Realtors across the country JUST DON'T work their neighborhood IF THEY did they strave to death... so whoever stated to need to understand the real estate market .
Home can't sell IF BELOW the appraised value.
Either resolve the issues search for another home . Sorry to read you having these problems
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors