Quote:
Originally Posted by sa226
Thanks everybody. I'm kinda leaning towards the opposite of the bolded. My gut feeling is that we may have overpaid a tad, but because we were in uncharted territory regarding the valuation the agreed upon price was acceptable to us. I kind of think the value is more in line with what the appraiser thinks.
My realtor used to be an appraiser, this is kinda his thinking as well. I think it'll come down to who is more motivated to get it done. I for one know that I don't just have a wad of that much cash laying around.
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Surely you had a financing condition?
If so you should be able to walk as the financing condition would have been based on deposit and mortgage resulting in a specific LTV.