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!
  • October 22 2013 - US
  • 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 (5)

Profile picture for CallTheSisters
As long as they have not accepted another offer you can submit a counter offer.
  • October 22 2013
  • 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 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! 
  • October 22 2013
  • 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.

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.
  • October 22 2013
  • 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.

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). 
  • October 22 2013
  • 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 wetdawgs
Is this a foreclosure or short sale?  
  • October 22 2013
  • 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.