Guys, I really need some help here. In my case based on some more comps which the seller’s agent had sent the appraiser has increased the value by 25K. Now from being 15K below the purchase agreement price, its 10K above. However, the house measures 200 sqft less than what it was listed for. I spoke to the appraiser a little while back…he is certain that the size of the house is very close to what he measured it as and is not close to what it was listed in the records.
What should I do, I don’t want to and will not pay for the agreed upon purchase price because I am getting 200sqft less than what I thought I was paying for. But, the 17 day contingency period is over, but I haven’t signed for any of the contingency release documents. But, since its already appraised at the purchase price….I maybe forced to sign the appraisal contingency. How can I back out without loosing by 5K earnest money deposit.