Profile picture for travelerone

Counter offer strategy

On a short sale purchase, is it advisable or of any advantage to counteroffer a lender's counter by requesting that the lending bank cover closing costs?  
  • May 21 2010 - Poway
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

 
 

Answers (6)

Profile picture for blue screen exile
My "counter offer" strategy?  Take in your Geiger Counter, and show that those radio active granite counters have to be removed!

Seriously, Endre is right.  If you want the home, than you will accept their offer.  If you don't want to pay what they are asking, you can counter since you will be looking for something else anyway.
  • May 26 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for The LaPeer Team
@April - Zillow prohibits posting all of your contact info when giving advice. You can search the Pro-to-Pro advice section for an explanation as to what constitutes spam on Zillow.
  • May 21 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Everything is negotiable.  You will never score if you don't shoot.  The worse thing that can happen is that they will say no.  But keep in mind that banks are (supposedly) not interested in the business of holding onto properties that could cost them loads of money if they went in foreclosure
  • May 21 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

If there is an approved $ amount from the Bank, then the buyer should accept the offer if they want to buy it. If not then they need to be prapered that the bank will reject their counter offer and the timeline begins again.Key question is the bank's offer still a good deal, if it is than the answer is clear it is not about haggling, it is about getting a good deal. If it is not than absolutely keep on going or counter which is the same.
  • May 21 2010
  • 1Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Depends on the market and what the actual price being offered is. The bank is going to want to lose the least amount of money possible on the deal. Therefore, in the end, the deal that provides them with the best bottom line number and presented by the strongest buyer, will win.

April Tavares, GRI
Realtor, DRE License #01742179
[links removed by moderator]
  • May 21 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Counters are always risky because they may void the previous contract, check with your lawyer in your state.
  • May 21 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.