Hello. I am not the listing agent but based on the history it looks like they adjusted the price because the bank would not accept the original price.
In a short sale, once there is offer on the property the bank will send out an appraiser or a BPO to give the bank their opinion of the price. In this case the appraisal probably came in high which then the agent would have readjusted the price accordingly.
Hope this helps.
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Dawn Noak, LSP, RSSP
NYS Licensed Salesperson, Gladstone Group
I would be very concerned about even trying to purchase a home you can't view in person or have inspections done on. I recommend you find a buyers agent to assist you with finding a home to purchase.... more
Along with your purchase offer, the seller and listing agent are also reviewing the terms of the purchase. An all cash offer and a mortgage contingency with 20% down upon signing a contract are two very different offers even if both are at the list price. The cash offer is stronger because you take the bank appraisal and mortgage contingencies out of the transaction.... more
It sounds like you may want to continue looking if they are already working with an offer that is higher than you wish to go. In our area it is unethical for the seller's agent to divulge what another offer came in at, or worse, to divulge what the seller is doing. There is a possibility that seller has directed his agent to do so. If that is the case they will disclose your offer to other parties as well. Best wishes. I hope you find that perfect fit.... more
The seller has options: to accept the offer, reject the offer or reject the offer & counter with another price. If there was a rejection with no counter, the seller has no obligation to you after the rejection. It's up to you and your agent to make another offer, if you want.... more
Both ladies who answered this question before me are right on track; in so many words use comps wisely and do the comp analysis by the book. In any pricing situation you have to think for yourself and use every tool you can find that makes sense. Usually, if you do the right thing the price will come to you.... more