A FIRST TIME HOME BUYERS' CONCERN

I'm a first time home buyers and is in the process of securing a loan.

question is? what recource do i have, the seller is asking us to sign the contingency release way before say, 2- 3 days before the 17 days, which i am told is the customary period and by which i am more or less required to sign. in the first place i didnt notice and inform that there a part in the contract that says 17 days or ____ days,

now, i read that

should i sign the contigency release for all i will be bound and have no recourse at all for any unsatisfactory issues on the house most especially, should the we failed to get secured the loan

it says, i will be liable, for what liability i believe a legal liability that compel us to pay for damages incurred on the sellers part, on the last minute i refused to sign and release the loan contingency and told my broker that i will only sign it if and when the loan is funded already,

will please tell me what right do i have and other recource? i believe by deciding not to sign, it will not affect my loan and will not in anyway resort to settling other than the normal way.

this is one case wherein sellers seems to me have a hard time agreeing to some minor defects, not even agreeing to furnish a home warranty report, whose responsibiloity is the home warranty report?

this is just some of theissue that i have now and somehow making me uneasy. can the buyers' broker as a practice forced us to sign? what is the normal process ?

how as a rule of a thumb , one can make an intelligent guess on the approximate value of the house? assuming we know the assess value from the assessors valuation for tax purposes? is there a general rule assuming the assessors value plus an acceptable percentage that will result into the approximate market value? it might be a buyers market but i guess we end up into a seller market that is how i feel.

in this case we areshouldering the closing cost though there is a closing cost too to e shouldered by the seller, what is the standard or average bargaining price so that a buyer can be in a point of strength in negotiating for a partivcular house or property?

what is the trend and standard things that a buyer in a buyers market ask for in buying a house when making an offer?

i have this experiecne wherein i ask the broker if 10 thousand is ok because i based it on the assessed value of the lot and the build structure plus a reasonable percentage to come up with the market value, my broker told me that is maybe too much, so i didnt pursue the issue, so weeks have passed, and now the property is selling and listed 10500 dollars less from the orioginal listing price, doesmy assumption make sense?

is it not right to make an offer on the lowest possible and negotiate from thereon?

i also noticed that every time there is an issue, my broker have this thing wherein he tend to justify the other side by citing other example that is acceptable? andhe will tend to tell me that, put yourself in the shoes of the seller , they have to protect themselves too ,

my onyl and always answer is, i do iunderstand that clearly, but it is theleast of my concenr because i am a buyer and i have the duty to protect myself too.

by not signing, i was told in effect and technically, we are out of contract? just what does it mean? it is broad in a sense i guess. i hope
anyone there can share their thought on this issue, i was told it is normal since we are sure and guaranteed by teh lender to get the loan, so we can sign the release of contongency, we havent yet have a walk through?

i havent seen the repairs done? and most importantly, i dont want to be pressure in signing i dont feel like signing as long as it is the right thing to do,

thanks john jim sebastian