cash offer wants appraisal AFTER contract signed.
We have a cash offer on our house and we have met all of the contingencies set forth in the contract. Now the buyers wants an appraisal for his "personal" use. We are very hesitant to let him do it, for prices have gone up faster in our area than the appraisers can grasp and we got a good offer.
Does the buyer, by law, have the right to get an appraisal now that all contractual obligations have been met? We think it is a back out clause for them if it does not appraise. Of course we may get to keep the earnest money but we really want to close. All contingencies have been signed off and this is a new out of the blue request.