We received a counter to our offer on that short sale house. The list price was $395k. We offered $300k due to the extremely poor condition of the house. The bank has countered at $375k. The bank's listing agent is so frustrated because she tried to get them to accept our offer since it was the best one that they had received in 5 years. At least they didn't shut us down completely like they did with the people who offered less than $300k before us. So, now what do we do? Our max that we would pay is $310k in all honesty and it doesn't look like the bank wants to go down that low at all. Guess we'll go back with $310k and just walk away if they don't take it, but I so want this house!! Ugh!
Short Sale - Counter offer came in
June 27th, 2011 at 12:22 pm
June 27th, 2011 at 01:50 pm 1309182633
June 27th, 2011 at 01:50 pm 1309182647
What is the average cost per square foot for the area you are buying in. The average cost per square foot might help you support your offer, or modify your counter offer if the bank is using pre downturn values.
June 27th, 2011 at 01:52 pm 1309182721
June 27th, 2011 at 06:34 pm 1309199673
If the bank would much prefer to extend and pretend rather than get some money, well, they've got their wish. Your job is NOT to support the bank.