My realtor is preparing an offer on a house and says that if we go conventional (not FHA or VA), I can be responsible for amount over the appraised price if Seller does not want to accept lower appraisal value. If this is true, what does the following paragraph mean from the third party addendum? It is from section B. Approval of Financing part 2. "Property Approval: Property Approval will be deemed to have been obtained when the property has satisfied lender's underwriting requirements for the loan, including but not limited to appraisal, insurability and lender required repairs. If Property Approval is not obtained, Buyer may terminate this contract by giving notice to Seller before closing and the earnest money will be refunded to Buyer." I'm only putting down 10%. The amount That I'm offering is at the top end of the RVM estimate range but below asking. I would go a few thousand higher, but not without bank financing and I don't wish to loose the earnest money.