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Your other choices are: try to save the deal by negotiating a new closing date with the seller and getting a different lender. Or, since two lenders have already valued the house lower, maybe you should step back and wonder if you really want to pay what looks like too much for a house in today's market.
If you have an agent, ask them to check comps again (I assume they did that when you made the offer). They should be able to do that for you very quickly. If you were about to pay too much, I'd say breathe a sign of relief that you didn't overpay and move on.
You also might contact the appraiser and see what they have to say. If they stand behind their appraisal, you might still be able to work it out. If they don't stand behind their appraisal - I can see the red flags flapping in the wind.
If you don't have an agent, I'd be glad to look at the comps for you, and the appraisal. You should have a copy of it, it's your right to have a copy of it.
As far as getting your earnest money back, since you said this all happened the day before closing, we must now be past the closing date, and there's no contractual obligation for your earnest money to be returned. Sometimes, people will give it back out of a merciful and understanding heart (I've made it happen for my clients more than once). Ask your agent to at least give it a try.... more