If all matches the company that you are signing with, then you could go ahead, otherwise, minimum recourse for hiring unlicensed contractor (IE signed contract with ABC Co then using CDE Handyman Services).

If that's the case, he's ahead of a couple of respected economists.  

He should have had a heads up from the appraiser if the number was not going to come in at the right price.

Honestly, make it out to the BP Meetups and listen to the podcasts when you are walking to class and you will be way ahead of most people.

Just a heads up we are starting to see some softening of the market with prices decreasing, and inventory slowly rising. 

Hello ChinaMom,You're sort of unique in that you already own property andso are a little ahead of the usual newbie.I like that!

-always know my profit. never make an offer unless I know my profit ahead of time or right up front.

If you stick with that line of thinking, you will be WAY ahead of most of your peers in a few years. :)

Then they went ahead and talked about closing costs etc and I got out of them that they had only purchased the house for 5K and that it needs to be closed by the 14th of October.Mind you, this is a company that has lots of houses under contract.Do you think it would be ok to come back to this offer and offer them maybe 6K?

You are so far ahead if you have someone that close you can learn from!