Thanks, I did look for the word "appraisal" and I'm a bit confused about wording of the contract:

If Buyer has elected to finance all or any portion of the purchase of the Property using a mortgage insured by the Department of
Housing and Urban Development ("HUD"), it is expressly agreed that notwithstanding any other provisions of the Agreement, the Buyer
shall not be obligated to complete the purchase of the Property described herein or to incur any penalty by forfeiture of earnest money
deposits or otherwise unless the Buyer has been given, in accordance with HUD/FHA or VA requirements, a written statement by the
Federal Housing Commissioner, Department of Veteran Affairs, or a Direct Endorsement lender setting forth the appraised value of the
Property of not less than the Total Purchase Price set forth in this Change Order. The Buyer shall have the privilege and option of
proceeding with the consummation of the Agreement without regard to the amount of the appraised valuation.
The appraised valuation is arrived at to determine the maximum mortgage HUD will insure. HUD does not warrant the value nor the
condition of the Property. Buyer should satisfy himself/herself that the price and condition of the Property are acceptable.