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Reply to "Escalation clause questions"
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[quote=Anonymous][quote=Anonymous]11:48, you really wish you had dropped the appraisal contingency? We lost over this, too. Our bid was higher than the winner. Sad about it, but worried that dropping it was too risky. How do you decide if dropping financing and appraisal contingencies is worth the risk? [/quote] At the time, we didn't want to take the financial risk of having to come up with the cash if it appraised to low. Looking back, we think it would have appraised at or above our offer price due to the recent comps in the neighborhood and area as a whole. Also, we've been at this for almost 6 months and just don't know if there's anything better out there... so in hindsight, the house was worth the risk.[/quote]
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