Quote:
Originally Posted by ironworks
I went through a similar deal, the bank countered back for 30k over asking. But what my agent told me is we should have agreed to there price because they will only be able to sell it for what it appraisal is. Nothing more.
There is nothing short about a short sale they take forever. Finally after 4 month of waiting the said house in now in escrow.
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We're hoping (there's that word again) that the bank won't be so bold as to try that. In this case, there's a solid, recent comp that they are aware of (they used it to set their listing price), so they should know roughly where the BPO will come in. But there I go again, assuming that people think and act rationally.
Your agent is probably right though, in that situation I guess we would just accept and then let the appraisal set them straight on their counter offer.