Re-negotiating with HUD

[Josh Emory]

Can you renegotiate with HUD after inspection. I know my earnest money is lost at this point if I don't close. Some issues came up inspection, they really don't effect my ability to get rent ready and hold, but could significantly effect the ease of selling at retail down the road. After inspection can I now lower my offer putting my earnest at risk or is my only option to cancel contract and then put in new bid and start over if I want house?