Appraisal came in much lower than expected – Any renegotiation success stories when the appraisal value won’t budge?

A house listed for $353K, we offered $376K, and the appraisal came in at $320K (17.5% below offer price, 10% below listing price). (We also waived the appraisal contingency.)

We love the house and can afford it, but it definitely stings having to put up an additional $56K of liquid cash on top of the down payment and closing costs. We will ask the appraiser to reconsider the value based on some comps, but I have a feeling they won’t budge; they will also not do a second appraisal

Anyone have success stories about renegotiating the terms and/or purchase price with the seller(s) to get them to “meet in the middle?” I’m looking for ideas to frame a renegotiation, so that we both come out feeling satisfied with the transaction

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A house listed for $353K, we offered $376K, and the appraisal came in at $320K (17.5% below offer price, 10% below listing price). (We also waived the appraisal contingency.) We love the house and can afford it, but it definitely stings having to put up an additional $56K of liquid cash on top of the down payment and closing costs. We will ask the appraiser to reconsider the value based on some comps, but I have a feeling they won’t budge; they will also not do a second appraisal Anyone have success stories about renegotiating the terms and/or purchase price with the seller(s) to get them to “meet in the middle?” I’m looking for ideas to frame a renegotiation, so that we both come out feeling satisfied with the transaction submitted by /u/Jet_Attention_617 [link] [comments]

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