Currently under contract for a house

[Joseph Pichardo]

Good day all and hope everyone’s physical and mental health are good for all.

My wife and i went under contract to buy a single family home for us and our family to live in. With what’s going on in the world and job market, is it possible that we are making a huge mistake in buying now? We went under contract in the end of February. They just finished approving my mortgage and are set to do an appraisal on Wednesday. What should I do?

If I back out I’ll loose a $10000 Ernest deposit (sale price is 535,000 and I’m putting 20%)

Advice please!!! Do you guys think the appraiser will take under consideration what’s happening in the economy, global health crisis, etc and appraise the house lower?

Thanks in advance and I don’t mean to put my problems bigger than anyone’s. I know people are going though a lot and I sincerely empathize with everyone.