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!

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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
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Are you speaking of someone in a short sale situation?

    Bookmark   August 30, 2011 at 10:55PM
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