If your intention was to finance x amount of the purchase and you can't get it I'd consider that condition have fallen through. If you want to go back and put down an amount equal to 20% of the purchase price then by all means negotiate. That's totally a negative on the property and should be priced in accordingly.
If you think about buying from the investment persective often the amount of leverage (down payment) you're able to use is the biggest factor in purchasing.
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