Today I received the call from the selling agent on the short sale I'm handling.  It was coming down to the wire...or so I thought.  The call was regarding the appraisal.  It came in 22,000 below the contract price (net).  Now what?  This saga has been going on now for about 4 months.  Now I will have to go back to the Bank and ask for a lower price.  The buyer has put in an offer at the appraisal price but wants to keep the 9,000 closing cost credit.  I find it hard to believe that the bank will approve it.  What did I do?  I asked for a copy of the appraisal stating the value, a copy of the home inspection release form and the form for releasing the appraisal contingency.  I will be going over it with my client as soon as they provide these documents to me.  The already delayed closing was due to occur on Oct 7 so it is unlikely that it will happen.  Tomorrow I'll have to talk with my client about what comes next.  There should be a law against these things because it's like working for less than minimum wage.