1)Overbid everyone else by 20%-30%
2)Go into escrow
3)Wait for the appraisal to come down to earth price X
4)Once the seller agrees to X, tell the seller you are going to walk unless you get appraised price minus an additional -5%?
So in your example, even when the bank says $302, you tell them, sorry It’s $290k now or have fun going back to the start…..Hmmm. I wonder.[/quote]
I think the additional drop would be a hard sell and not within the original contract contingencies.
