This morning we have a bit more clarity surrounding the situation, I guess. Turns out the appraiser DID appraise the property for what we offered for it. What he didn't do was appraise the property for what we offered for it PLUS the money that will go in the escrow account to make our whole financing scheme work. So, the lender is going to try and straighten that out today. If he won't do that, we can still have the lender's appraiser go do it. Our other option is have our agent go and ask the seller to lower his price. If he doesn't want to do that, I guess he can walk away. I don't want him to be able to walk away. I want to buy the house. Yargh.
Regardless, we're not closing on the 19th. The underwriter still has to do his or her thing, and bunches of other things need to happen as well. We're not sure what the new timeline will be, though. Hopefully we'll know soon. I feel like that's becoming our catch-phrase with all things surrounding the rat hole...
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