Short Sale question - another.

jjaazzyAugust 30, 2011

For those of you who have been through the process. When you have an offer written up and it goes to the bank, is there a process where they try and negotiate with you since they know your interested in the property, like you would do with a "regular sale" home. Or, do they flat out send it back as a REJECT!

Thank you for reporting this comment. Undo
ncrealestateguy

Just like any seller, the bank has three options:
1. Accept
2. Counter offer
3. Reject

I have seen them do all of the above. I almost always advise my sellers to never reject an offer. A lot of buyers will lowball the first offer, just to test the waters. I have seen these same buyers come up substantially after that, and come to a deal with the sellers.

    Bookmark   August 30, 2011 at 9:51PM
Thank you for reporting this comment. Undo
jjaazzy

Are you speaking of someone in a short sale situation?

    Bookmark   August 30, 2011 at 10:55PM
Sign Up to comment
More Discussions
Driving A U-Haul, Towing A Vehicle Transporter
Well after all the looking and reading we have decided...
splais
Seller not allowing final walk-through before closing
Hi, I am struggling with a strange situation in my...
musicgold
Home sellers: Terrible experience with realtors?
Hi there, I'm getting ready to sell my house and need...
dollhausimaginations
Retiree - rent or buy home
We are newly retired and have a plan to sell our current...
waterlily_girl
How soon is "too soon" to select a realtor?
Not planning to sell until about this time next year....
lori_inthenw_gw
© 2015 Houzz Inc. Houzz® The new way to design your home™