The bank sent a counteroffer from our offer on a short sale, but said this does not mean our offer has been approved yet, why send a counter if you

Asked by Ldavis76, Gonzales, LA Wed Jul 14, 2010

are not accepting the offer, the price did not change just the home warranty and termite cert.

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3
Mike Young, , Fairfield, CA
Wed Jul 14, 2010
they are countering your offer. If you accept their terms you have the home typically. see your agent and decide if you think it is still a good deal. If you want some insurance then do a 203k loan. 3.5% down, low interest, but most of all you get the repairs made that you are concerned about. The home warranty is something you can pay for I believe and I always recommend a termite inspection that is just good on your part (not if you are going to use the Streamlined "k". I recommend a 203k home inspection so they identify the health and safety issues and can guide you as to how much it might cost to make the repairs. The sweet thing is you can add other repairs or upgrades you might want over the issues you were negotiating. You can also go to 110% of the "after improved" appraised value to help you with your construction or purchase.
Web Reference:  http://www.203konline.com
1 vote
Dawn Mire, , Baton Rouge, LA
Sun Mar 13, 2011
THIS IS NOTHING TO BE ALARMED ABOUT , HOWEVER YOU NEED TO READ THEIR COUNTOR OFFER COMPLETLY AND MAKE SURE YOU AGREE WITH ALL OF THE TERMS OF THE OFFER , ONCE YOU SIGN IT YOU HAVE ACCEPTED ALL OF THE TERMS AND CONDITIONS OF IT , WHICH ALSO OVER RULES THE TERMS AND CONDITIONS IN THE ORIGIANL CONTRACT . JUST MAKE SURE YOU KNOW WHAT YOU ARE SIGNING .
0 votes
Carmen Denham, Agent, Baton Rouge, LA
Fri Jul 23, 2010
Many banks say that because, technically, according to their legal department, "acceptance" of an offer, and them "counter offering" are two different things. It's nothing to be alarmed about, though.

Geaux Big Realty
info@geauxbigrealty.com
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