Similar events we see inventory and transaction volume drop but price rarely drops in our market. 2008 recession we hit -7% 

But then again, I don't want a surprise.Another concern is, in the event the loan does indeed comes still wrong during the closing, am I responsible for any fee if I decline or walk out from the closing?

Is there a reason they can't simply put a 24-hour notice (or whatever notice is required) on the door that a showing will be occurring on X date at Y time? 

Look it up at www.biggerpockets.com/events.

@Brian Burke   We thought that we were well prepared, indeed we were but this unprecedented event showed some flaws in our battleplan and afforded us the opportunity to "MATH" :) Always love your insight  

The panic has started , today the Governor of Maryland shut down the public and private  schools , banned events with over 200 or 250 people .

@Aaron Morrow Their events are cancelled, so they need not travel.

In any event, if he is honest he shouldn't mind explaining his fee.  

I would say the Great Depression and the Civil War and possibly other events would qualify"never in history (and please fact check me on this) has there been an event that has had such a massively negative correlating effect on all sectors of industry all at once"

A refinance is not a taxable event.