Offered higher to win and renego to lower pricing

[Jay Yoo]

Hi. I'm a newbie to REI so bare with me if I'm not explaining well enough.

My agent and I offered higher to win the multiple offer and hope for a lower appraisal than offered pricing.

Guess what, the appraised value was matched to my offered pricing.

Now I’ve asked the seller to extend the closing date and they accepted 7 more days for us to have the lender’s underwriter to review the appraised value.

The underwriter comes back said “not enough leverage to lower the appraised value”.

The lender will now ask one another underwriter thirdparty to have them take a look.

The background for this property is

It’s a condominium near a very high population area. The same unit with a lot renovated was sold for the listing price three months ago.

We offered 10% more to beat other multiple offers.

We have 10 days left until closing. Any other tactics you may have suggestions? Thanks!