Closing advice on bank owned property in Amador county

[Jacky Lieng]

Hello,

Currently in the final stages of closing on a bank owned property in Amador County in California.

I asked my realtor to ask for a price reduction on unforeseeable deficiencies on the house from our well, septic, termite and roof inspection. So my realtor talks to the banks agent and she tells us “I can ask for the reduction, but let your buyer know the bank may just decide to cancel the contract if they don’t want to reduce the price”.

So my question is for you brilliant people here on bigger pockets. Does this sound legit? Can they cancel the contract just because I asked for a price reduction? 

What are your thought?

thanks in advance for any advice.