Potential Home Ownership Drama

So, our latest home ownership saga has been us waiting on our house appraisal to come back. If it appraised for the purchase price, then no big deal and we can get a loan. If it doesn't though, then the bank won't give us a loan for the purchase price and we're sorta stuck trying to figure out what to do. That's the position we found ourselves in this week.

Apparently, realtors and mortgage broker's have been anticipating this situation with recent changes to the appraisal/mortgage broker relationship that got some into trouble during the housing boom. Now when you need an appraisal, you have to schedule one through a third party and there's no interacting with them. So, when you have an appraisal and no one thinks its accurate, then there's no real way to discuss it and we're stuck having to go to the sellers to negotiate. It's a very frustrating situation to be placed in as buyers because now there's a chance that we won't get the house when we want it and are happy to pay the purchase price as we've already negotiated. But that's real estate apparently.

Wish us luck as we try to ask the Radmakers to lower their selling price...