Common sense should stop you. How do you know the person selling you the home has free and clear ownership of the home? What if the house has structural damage? What if there is a meth lab in the back yard? You might want to do your homework before you make a decision like this.... more
This counter process is the process that most banks are doing with multiple counters and it does not make the deal transparent to all parties. The answer you will get will not be satisfactory for you. However, I am sure your offer was submitted and the process made the decision on the offer that they felt most comfortable. The goal is to have a deal that will close the quickest for the most money. If there are any items that are in contract that may hang the deal up, the other offer will be accepted. It is not always the highest offer but the highest offer that will close, in the processors opinion.
First Weber Group
Certified Distressed Property Expert