Thanks for the answers. Judi, I miss seeing you at the office, but I love the new company.
Contingencies have all been met, and lending pre-approval with comps were sent to the sellers' lender with the contract. In this particular case, it is ALL about the money. If the existing contract price is already at appraised value, submitting a higher offer won't work, unless it is cash, because it would have to appraise at or above the contract price in order for the buyer to obtain financing.
The sellers have a lawyer, supposedly working for them with the bank, but the of the twenty plus times I have called and emailed the attorney, he refuses to reply, and I am able to speak only to his assistant who won't tell me anything.
James Gordon shed a bit of light on how the banks recoup their money and the link he provided is very informative.... more