After long, hard and careful consideration as to my dilema in this real estate purchase,
I am (justifiably) still somewhat disoriented and unable to clearly think as to my next move. This is extremely time-sensative and am pleading for some sound advise and guidance. I am currently in escrow for a 1-BR condo as my primary residence and have been in and out of this transaction many times during the past several months. It is no longer a "short sale", having been foreclosed by the bank, purchased by an investor and turned over to a realtor for sale. My same purchase offer was resubmitted and accepted.
I am simply awaiting reliable funding. In the meantime, contrary to this issue, I found another 1-BR condo in the same city which I like nearly as well (it's a "shart sale") and
made an offer which was acepted. I already have a strong loan broker working on this property (its only been 2 weeks) and I'm confident he would "shift gears", if I asked, and concentrate his efforts on the property I originally purchased and am in escrow for.
Both units are in good condition, nice locations, similar square footage, reasonable HOA dues including many amenities and lots of upgrades. The real issue is that the first property is $35,000 higher; however, at this point, I don't feel it's worth that much more in terms of sales price and it probably will not appraise for this higher price.
I feel that I need to ask my agent to approach the selling agent to re-negotiate and accept a lesser amount with his seller, thereby initiating a new sales contract.
Based on a very recent salee of the unit directly above the one I am interested in, I should be able to offer $12,000 less than the (now) purchase offer and agreement.
I am willing to proceed with the lesser-priced unit if a lesser offer is not entertained.
I fully realize the absolute seriousness of this transaction and am aware of the huge inventory of properties (mostly foreclosures) but still favor the higher-priced unit.
Can any competent real estate professional, PLEASE offer some advice and guidance?
I am genuinely appreciative of all comments and suggestions!

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 Tags: purchase, restructuring sales contract, submitting new offer, current escrow account

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