Hi Everyone! THANK YOU all for your answer! Keep em coming! I really need help!
Just a little background. First off, of course, we LOVE the house. We are totally attached already (I know, a mistake) the location is the best we've seen in the 30+ houses we toured. I looked at the comps he used, and they aren't even good comparables! He compared wtih homes that have less bedrooms, no finished basement, not as good of a location, etc.
Sounds like a good thing that we would pay less. however, here's the deal. we bought for a certain amount (I will make up figures here).
bought for $550,000
with a $ 15,000 sellers assist. (we need that sellers assist due to the fact that we have zero cash since our own house didn't make us any money)
Appraised for 535,000.00
The sellers told us when the negotiating process went on that thier "bottom line" to move was $535,000.00. Here is our fear:
If they lower their purchase price to appriased price, they wont offer their sellers assist anymore and we will somehow have to come up with $15K or whatever for closing which we DONT have.Costing us more money.
If we meet in the middle, we are out more money again.
If we walk away, we will be devastated, find a less desirable house and the sellers assist wont be an option again.
The town we are buying in is a town I am VERY familiar with (grew up in) and honestly, this is the only house we loved and is the best for us, the location just cannot be beat. We are fine with the mortgage and were thrilled with the sellers assist, doubtful we wil find a houe with the location, upgrades it has, 4 bedrooms, etc and the sellers assit. Believe me, we've been looking and only have 38 daysto figure this all out!.