[MonkeyMama]

Um, I have never bought a house where the final sale wasn't contingent on an appraisal for at lease the agreed upon value. That's generally part of the contract. This whole series of events probably makes the contract null and void. Meaning, the seller should know what they are getting into when they accept an offer. An offer has all sorts of conditions. This is simply a failed condition. I definitely would have no qualms walking away in this situation. Should be what they agreed to. (Though who knows what OP exactly agreed to).

P.S. It's kind of relevant to get approved for the mortgage? No mortgage, no purchase. For most people. The average person would lose their loan in this situation. The contract would be void.