We call them Contingencies:
Meaning that Acceptance of the Deal is CONTINGENT upon the
We normally include all three is an Offer to protect our Clients: But they have to be written into the Offer before it is submitted for Acceptance by the Seller; they cannot be added later.
If the Appraisal came in too low, you may have to live with it; the Bank probably won't budge.
You may contest the Appraisal with the Bank, (you'd have to pay for another Appraisal which the Bank is not obligated to accept, [and may come in at about the same amount!]
You may accept everything and pay the difference,
Or you may walk-away (if you have the Appraisal Contingency).
Good luck and may God bless