Reply to Anybody bought at house without an appraisal contingency?

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[quote=Anonymous]OP Back Again, with an update, in case anybody is interested.

In the end, we decided to go 'middle-ground' with the appraisal contingency.  We couldn't really get comfortable with the idea of dropping it altogether, but also felt that we wanted to be aggressive with our bid.  So, we went with a modified appraisal contingency, essentially saying that if the house appraised at at least 99% of our offer price, we would not void the contract based on the appraisal.

We ended up getting the house, though we did not have the highest offer (the seller invoked our escalation clause, so we got to see at least one other offer).  Of course, it is impossible to know what tilted them in our favor.  The modified appraisal?  Good financing?  5% earnest money deposit?  Doesn't really matter at this point - we are just happy that we were successful.

Now, of course, we wait for the appraisal.  Will update once that comes in if anybody is interested.

Thanks for all of the feedback and suggestions.  They really helped us to think through the situation a bit more clearly.[/quote]

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