sdrealtor, technically correct, however let’s think about it. The seller, and BTW, it’s still the sellers deal to sell. Wants it done. Starting to flip flop with offers with the bank is a formula for a giant PITA for the seller.
As SD Realtor said, at a screaming deal, the seller should have received multiple offers that first day if there’s only one or two others that have sold in the last year comparable.
Everybody wants the deal at $720K. How many can do the deal at $750K when it’s a $720K mortgage and $30K cash to the 2nd? How many are running to the bar at the $850K listing?
How many are like SD R’ deal where the 2nd bank comes back saying we want $$ and all eight back-up offers fold…
So now the seller has the bank’s saying we’ll take X & Y. There may be multiple people willing to buy it at that point… or should the seller start over and send whatever potshot comes in from someone trying to pay a little more to get what now looks like a good deal, a week later? Two weeks later?
The seller wants it sold. Actually, the seller, probably just wants it over. Either take the offer bank or foreclose.
