That's odd. As long as you've been granted access to inspect a property, you can order a termite inspection. But, in this situation, the bank may very likely hold firm on their price, regardless of what you say or let them know about termite. The bank will only consider lowering the price if they don't sell the property in 30-60 days. In this market, I doubt that would happen if you're interested at their list price.... more
Unfortunately, the amount of time that a bank will take to accept/reject an offer varies from case to case. Sometimes an offer will receive a quick response within a couple days, and other times it might take a few weeks to receive any feedback (if at all).... more
could be that it's a perk of the job (if you work at circuit city, you get a better price than the end-user). could also be that you need to re-think your strategy so that you can find the deals & make offers earlier.
ultimately if the properties are priced significantly below market, the offers will ALWAYS be above list price...that doesn't mean that paying above list price is a bad deal if the list price is already below market. Put your offer in. If your offer is highest, you get the house. Ultimately, that's all you can do. I wouldn't suggest letting the presence of other offers dissuade you from making your own.
For example - if a house is listed at $50,000 but is truly worth $100,000 and there are offers of 75,000 on it...is it a bad deal for you to offer $80,000? It's worth $100,000...only way to do it is to know your market, know your comps, and make offers based on market value...not based on list prices.