1. The bank may be under the belief that the house is worth the amount of their counter or may think you made a low-ball offer.
2. How long you should wait is a personal choice. Do you have another three months to wait before closing? You may need that much time. Be sure to have you financing lined up for quick action in case you get an accepted offer with a short closing deadline.
3. Consider whether the bank's counter is reasonable. Do you want the property enough to take the offer and be happy?
Using the seller's acceptance in a short sale is not a true measure of the home's value or appropriate selling price point. The seller does not care because they have no equity and just want to get away from the property without a foreclosure.... more