Our realtor pointed out that our bank should not have assigned us an appraiser from Johnston county who is not familiar with the Durham market. It took much longer than expected to get the appraisal because he/she had trouble finding comparable home sales in the area (imagine that!)
Well, we finally received the appraisal yesterday, and I'm not sure what to make of it: there is another required repair in the appraiser's report which the Seller may not want to take on, and the home was valued several thousand less than our offer price. What this all will mean for us is beyond me.
It's a real pain in the ass to not know what will happen next. I'm starting to get a real sinking feeling.
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