Should I accept offer?

I'm not a fan of paying a dime more for a property than the appraisal indicates. With that said, many people do it, especially the past two years, where that seems to be every other deal I work on, when it was basically unheard of before. From the lending side, we base everything off the lesser of the purchase price or appraisal, whichever is lower. So in your case, minimum down payments requirements will be based off the appraisal. Any contract sales price you have with the seller over that amount will be additional cash out of your pocket. So down payment + closing costs + difference in contract vs appraisal is all cash out of pocket. If that still makes sense, go for it... I lend in MN Wi IA ND SD. Find me at (651) 552-3681 JoeMetzler.com - Cambria Mortgage, NMLS 274132

The financing will not fail as long as you can make up the difference if you want to. If you pay for the appraisal and the value comes in lower and you decide not to buy the house you most likely will lose your appraisal money. You can negotiate with the seller on the contract stating if the appraisal comes in lower they have to cover your appraisal cost, and you could walk away. I lend in CA, FL, IL, GA, NC, SC, & TN for residential loans, and lend throughout the country for commercial loans. We can go down to 500 scores for VA & FHA. Barclay Butler. NMLS 225269. www.barclaybutlerfinancial.com