Asked by Noob, Queens, NY • Sun Jul 20, 2008
When an appraisal comes in below the contract price, do I, the buyer, have the option of renegotiating the price with the seller or am I left to come up with the difference on my own? If the latter, how do I avoid this problem? Should I have gotten the property appraised before putting in an offer? The process seems a bit backward to me.
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