Is the person still interested? If so, have your realtor challenge the appraisal. Even if you spent the money getting a new one, when you sell, the new people will (or their loan company) will have to have new appraisal.
Why would the other realtors us the word shaningans if they were not try to pull something. You may have to go to the State Board over this

The real estate agent can not make a buyer be normal. Why should he go to the board? It sounds as if the agents think the buyer is just acting all weird.
As for the OP: If they are interested still, challenge the appraisal. It doesn't matter what your appraiser says. Every bank or lender has appraisers they use. They aren't going to trust yours because you are paying for it. It could be seen as a conflict of interest.

You don't understand, happy. Your buyer turned out to be a real jerk. Thats why your realtor said, sorry. First of all the appraiser was probably a friend of theirs, and you should never, ever offer to do everything that was on an inspection report unless your Dad is the inspector.
The next buyer will use the appraiser that his lender wants to use.They don't use somebody else's appraisal.
What in the world would you expect the State Board to do--the buyers pushed for a lower price to see if you were desperate and you said no. Now when you get a new buyer, you are going to be a lot smarter.
I'm a real estate attorney--for years we had some nasty sellers who charged max and took the chandeliers with them; now we have buyers hoping to steal the house for way too low. Thats the cycle of real estate life, its not illegal.

Well, I wouldn't knock off a 117K without having an appraisal of my own done, on my own. Perhaps your price is out of line with current market values, but I wouldn't take anyone's second-hand say so for that.

I know I'm continually beating the same horse here on this forum, but appraisals done for mortgage-getting purposes and appraisals done for other purposes (such as current fair market value) are not always identical. And that doesn't take into account the effect of a poorly selected (or deliberately poorly selected, IYKWIM) set of "comps".

Tell your realtor you'll noodle on it. Get a private, qualified appraisal done and see what that tells you. Then you'll have the info you need to decide if a 117K price break is a fair deal or just someone trying to shake you down.

And if you do end up ditching these buyers, take a look at the "inspection report" and see if any of those things need doing and get them done, and then don't tell the next set of buyers you'll fix everything on the inspection report.

An appraisal should cost less than $1000 even for pricey properties. Money well spent when you're talking 117 times that amount as a possible concession. Ask your attorney, bank, as well as your realtor, for some names to find an apparaiser appropriate to your property. Talk to several, choose one that will take the time to go over the results with you so you get an eduaction in how it is prepared and how to properly interpret the info it contains. The bottom line in it is just the tip of the iceberg in its potential utility. Unfortunately, the documents are often confusing and the process is backwardly reductive; but a good apparaiser who'll take the time to go over it and explain it is well worth paying for. Plus once you know how it's all figured you'll have useful info in every RE transaction you ever make from here on out.

Good luck,

Molly~

I have to agree that you probably have no course of action to complain to the state board of real estate for the lousy appraisal, but I would certainly send a letter to whatever state entity, if any, licenses appraisers. Since you were not officially the client of the appraiser I don't know that your complaint would have much affect, but you never know.

Was the appraiser familiar with your area and the subtle differences in the neighborhood? I once listed a property that was appraised about 9 months before listing. That appraisal was done by a local that had worked in the area for many years and understood the nuances of the local market. Since the market values were increasing we were very comfortable with our under-appraised value price. Buyer's appraiser was from another area and probably did not fully understand the differece in rental properties in a college town and the full effect of being located blocks from campus. Appraisal came in under sales price--surprise, surprise. Comps were miles away in a completely different area for rentals. It was a nightmare, but the bank eventually agreed to do another appraisal with a local person that fully understood the market. Property ended up appraising for more than sales price again! In this case the buyer was willing to pay for a second appraisal or lose his earnest money. (The deadline for the appraisal had passed and his agent (step-daughter) never asked for an extension.) I hope this works out for you, but ask your agent if the buyer would still be willing to move forward if another appraisal shows the house to be worth the sales price and then pay for it.

Thanks for your input everyone. The other realtor said to my realtor, "If your sellers change their mind let us know" My realtor responded and said "No if your buyers have a change of heart we will be here, my sellers have no situation here, they are in no hurry" The buyers realtor said "Oh, theres no situation there???" For some reason these buyers realtors thought we had some situation going on?

Second point I have kept a close eye on what has sold in my surrounding area and go to www.miamidade.gov after a sale and look up every house and what it sold for, my house price is in line with similiar sq ft and I am on water, where they may have a bigger lot, or a smaller lot and behind a gate, it depends on what one is looking for. I really just think they were seeing if they could get something for nothing, or a steal.

I have more showings this weekend, maybe someone will think this is the perfect house for them. I'll keep ya up dated. Thank you again for all the advice.