Profile picture for rogertooley34

If i make an offer on a home and the bank counter offers, can i come back with another offer?

I recently made an offer on a home and the bank came back with a counter offer..................agent says thats it i cant send another offer!
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October 22 2013 - US
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Answers (5)

As long as they have not accepted another offer you can submit a counter offer.
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October 22 2013
Profile picture for rogertooley34
Thank you!!  It is a foreclosure. My understanding is that they were trying to short sale it when the owners still lived there, now it is empty and the bank has it. Thanks again! 
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October 22 2013
You can send as many offers as you wish. And the bank can reject them all.

If this is a bank owned home and you don't want to pay the banks asking price, come back in a month (assuming the property is still available) and submit another offer. Banks typically mark down aging inventory about every 30 days.

But to counter offer their offer with a lower dollar amount is probably fruitless - unless you are requesting a change of closing date, etc

If this is a short sale, the banks offer is most likely set in stone.
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October 22 2013
Yes, you should be able to counter their offer, as you would in a traditional sale. However, keep in mind that the bank may simply not respond to your counter, which may effectively cancel the contract (since you did not accept their counter). 
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October 22 2013
Profile picture for wetdawgs
Is this a foreclosure or short sale?  
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October 22 2013
 
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