Depending on how much you love the lot. If it’s in an older area, a similar lot might not come up often. If you don’t mind buying another house that might not have the lot you want, then I would walk. But if you’ll regret it in the future if it did sell for <$50k less than your offer, then I would buy it if it were me.
an, The only reason we are even considering this deal is the fear of future regret. Otherwise, there are 1000 compelling reasons to walk away. We are already overpaying by $100k based on two separate appraisals, and we also need to spend probably $150k on other repairs/rehab. The extra $50k-100k in surprises is really hard to stomach. And the sellers are not willing to reduce the price even a dime. Regret is a two-sided coin: if we buy this property, there might come along a superior opportunity, and since we have burned our cash with this purchase, we will have lots of regret.
