Purchasing a new home from K Hovnanian in Alvin, TX. I just found out the home appraised for $12257.00 less than my purchase price. Builder refuses to reduce the price on the new home. Also, builder will not refund my earnest money and money for upgrades totaling $3000.00.
I'm screwed either way I go! I lose $3000.00 if I back out of the deal or if I go ahead and purchase the property I have a home not worth the cost. I feel like I have a knife to my throat and if I don't purchase it, my throat is slashed!