IIs My Contract On A New Home Still Legal If The Home Is Coming In With An Under Appraisal Of The Original Purchase Price Of The Home, I Would Like To Break The Contract, Can I?

I am friends with a couple of appraisers. From what they tell me, an appraisal is solely an opinion of a person or firm. It is up to the financial institution which one that they use. As far as breaking the contract, you're probably going to lose some earnest money. If not get sued into purchasing the home, but that would be the worst case scenario. I'm not saying these are legal facts but that are some of the things I've seen happen. Maybe this will help you get started.

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