Asked by Jflt, Elizabeth, NJ • Tue Apr 7, 2009
We made an offer on a house in NJ. It just entered Attorney Review. The contract does NOT state anything about appraised value. My question is, what if the appraisal comes back BELOW the priced we offered? Should we ask to renegotiate?
Also, should we have our lawyers state EXPLICITLY a contingency that we, the buyer, have the right to cancle contract if the house appraises for LESS than our offer?
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