So the appraisal came back, it was $5,000 under their asking price. On top of that there is $1,200 worth of electrical issues needing to be fixed and a lot of peeling paint needing to be taken care of. Asking them to drop their price by $5,000 probably wont go through, chances are they would rather put the place back on market and try again. There is the option of meeting them half way but we have to somehow magicly come up with the extra money. What makes this really frustrating is that so far in our search there has been absolutely nothing else available to us. We need to get out of the city, but due to my BF's work he can only be 30 miles away. Plus we really want a couple acres. That narrows down our options to pretty much just mobile homes, which we found out very few people here want to lend to and insure., not to mention most were pretty run down which we would never even get approved for in the first place.