Appraisal came low
Appraisal came low and seller wants us to re appeal. It came 7000 lower than the purchase price. We felt from the start that it was overpriced and agreed on this price. We have an appraisal contingency. Their letter for us to send to lender says
correction of the C3 raNng to C2, which removes negative condition adjustments from the appraiser's heavily-weighted Comp #3
• remove one sale comparable as it is 1.83 miles away.
• bracketing data on bathroom count from same-submarket sales
• correction of the missed RV parking and extended patio site improvements
• Direct market evidence from three independent offers on the subject
We told we don’t want to contest the appraisal. Are these even valid points?