Appraisal addendum (to sign or not to sign)

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I am new to investing and currently put an offer on a duplex listed at 148k in the dfw area. The property is right across the street from a college and stays 100% leased all year at 700 a month each side. I can most likely upgrade to get another 100 per side. The problem is that the comps for the property are all over the place and when I placed my offer I was in a multiple offer situation. I ended up winning, by increasing my offer to 152k but had to sign the addendum saying if it didn't appraise I would have to bring the cash difference. My option period starts Friday and I am having serious doubts that Irby won't appraise and I may have my firstborn deal be a bad one. Still not too late to get out though. Any thoughts. Thanks

If 4K makes or breaks your deal then it’s not a deal.  

You could require that the property must appraise for at least 148K and that you will cover the difference above that. 

First off, appraisals are a joke. If you buy/sell enough properties you'll find that the appraisal typically comes in very close to the contracted purchase price. Your offer is only 3% above list price so I suspect you'll be fine.

Second, even if the appraisal came in low, you could walk away from the contract for other reasons like inspection objections. Worst case, you could walk away and lose your earnest money deposit.