2007 Purchase and Sale Agreement affects GA Home Buyers in financing contingencyhttp://lauriefurem.point2agent.com/blogs/laurie_furem/archive/2007/03/16/2007-purchase-and-sale-agreement-affects-ga-home-buyers-in-financing-contingency.aspxThe 2007 GAR Purchase and Sale Agreement can be confusing unless you read, re-read and then ask a real estate professional for advice - especially in terms of the financing contingency. We need to be careful in the time period allowed to satisfy the contingency.enCommunityServer 2.1 SP1 (Debug Build: 61019.2)re: 2007 Purchase and Sale Agreement affects GA Home Buyers in financing contingencyhttp://lauriefurem.point2agent.com/blogs/laurie_furem/archive/2007/03/16/2007-purchase-and-sale-agreement-affects-ga-home-buyers-in-financing-contingency.aspx#71021Fri, 30 Mar 2007 16:36:29 GMT842544ff-3d6b-410e-b069-278621480d61:71021Elizabeth Eagan<p>Laurie - We are going through this process right now, and have $7500 of earnest money on the table. &nbsp;The 10-day contingency period has passed, and our property appraised for $50,000 less than the purchase price of $317,000. &nbsp;Our agent did not have the foresight to include an appraisal contingency on our behalf. The sellers provided us an appraisal from June 2006 that stated the property was worth $305,000. &nbsp;We feel that this is a case of fraud and pricing gouging at this point on their end, since they have no justification for their sales price. If they are unwilling to renegotiate the purchase agreement, and refuse to return our earnest money, what legal action can we take against them to prove that they were fraudently pricing their property? &nbsp;</p>