Also think about waving the appraisal. Just because you waved the appraisal does not mean that you are an all cash buyer. Is simply means you will make up the difference in cash with where the appraisal is and your bid. With how everything is appraising right now, you probably won't be very far off.

Also, you could consider paying less than the 20% down. Sure, you will have to pay mortgage insurance for a year, but then it usually gets refunded back to you.