Q: Appraisal came back lower than initial accepted offer Sellers agreed to sell at lower price. Sellers are going to sue us
Appraisal came back Monday evening and scheduled to close Thursday. We did not accept new appraisal offer due to the loan to value ratio and made a counter offer Thursday morning (closing day). Seller won’t accept our offer and is going through with legal action. Does the seller have grounds to sue us for not accepting the new price and not liking our counter offer?
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