board application denied - low sale price

Attention StreetEasy -Need advice!!! My application was recently denied by a board in Queens. The prior owner passed away and her estate is in possession, paying maintenance etc. The apt. may have been listed at a low sales price but I won't know for sure until my broker does a market comparison. My offer was accepted at ~ 5K less then the listing price but my attorney included a seller's concession in that amount in the contract which would be credited because the unit requires a gut renovation. Now, the board is asking for an additional 6K and I still have to go for an interview before gaining approval. Can the board impose an arbitrary price and essentially invalidate my contract? What are my options other than walking away, forking over more money.. Thank you.