The appraisal that my lender ordered came in 7k below our offer. We are FHA and the appraiser noted that the home met minimum FHA requirements. However, the water heater & furnace were not lit so she’d need to re-visit.

The trustee sale is scheduled for the end of June and this TS has been already postponed twice before we came into the picture.

My agent thinks they may just accept but cut into the closing cost allowance they had previously agreed to.

You’d think a bank would accept 7k less rather than send to auction?