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i am in similar dilema, signed lease purchase 17 month ago, due to settle next month. house value was 400,000 at signing, now valued at 240,000. I intend to offer an adjusted price of 330,000, thus meeting seller approx half way from original price to current market value, do not know what legal grounds may be involved, altho my other option is walk away and lose 40,000 escrow deposit and be open to any legal efforts on seller's part. any out there with some semblance of guidance?

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Q: How to renegotiate already signed contract of sale for residential single family?
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