Appraisal Came In Lower than Asking Price

[Elisabeth Hernandez-Madrigal]

Good afternoon everyone!

Property:  Original sell price $52,500, negotiated price down to $50,500.

I am in escrow on the property (Purpose is Lake House Vacation Rental).

My question is this, we just received the appraisal back coming in at $45,000.  What are my options if the appraisal value comes 6,000 under the seller's asking price?

One, I would not have the luxury to put down an additional 6,000.

Feeling a tad bit gutted on my first place.

Thoughts? Recommendations? Suggestions?

Thank you in advance for any help.

Elisabeth Hernandez-Madrigal (Newbie)