Well that question is one we all would like to have a definitive answer for. The procedures these banks appear to love, honor and obey so diligently are a thorn in the side of many of us.

To attempt to answer your question, I would say that you have a fair to good chance that you will prevail. The fact that the lender actually countered is nearly amazing alone. Typically the banks will look at one offer at a time and work figures on the best and final. I just wish you had signed the counter they prepared. That was your chance to tie it up. But obviously the terms still were not acceptable to you.

Keep in mind that there are a lot of buyers in the marketplace right now with multiple offers on many foreclosed homes. The inventory is only 2 to 3 months worth, depending upon the location. Another buyer's offer could easily be accepted at any time while they are running your counter offer through their "approval procedure".

If the bank provides you with a counter offer in the future, which is somewhat rare, I would really give it some serious thought before rejecting it. Banks don't play the back and forth negotiating game nor do they need to. It's all in their hands right now and all you can do is wait. I do hope the best for you! But if it is not this home, there will be another....and another.....and another...... Best of luck!

Diane Wheatley, Broker
diane@moveupproperties.com
(909) 815-4499