Asked by katiedog37, Middlesex County, MA • Sat Jun 23, 2012
Iâ€™m curious if anyone else has run into a similar problem and looking for advice on what we can do here. We are in the process of purchasing our first home. Weâ€™ve gone through all the proper steps so far and everything seemed great until the appraisal came in low- suspected to be approx. $13,000, or about 7% of the agreed upon price. The seller will not come down at all and wishes to walk away from the deal. We will now be out the money weâ€™ve paid for home inspection, appraisal, credit application, etc. (approx $1300). The mortgage company will not release the appraisal report without a fully signed P&S, which we have signed, but the seller has not since they have decided to walk away from the deal. My concern is that we paid $700 for an appraisal that weâ€™re not allowed to see. If you pay for something, shouldnâ€™t you then receive the thing you paid for? I understand the appraisal was done and the appraiser needs to be paid, so I can see why they wonâ€™t refund our money,
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