Wells Fargo short sale negotiation - help!

[Shefali R.]

We bid $166k cash on a Wells Fargo short sale property in January. Bank came back today with a counter of $175k (which includes $10k relocation for seller). We want the property but want to counter the smallest amount that would get this done. Short sale experts - all advice and suggestions are welcome! Thanks 

[Brett Goldsmith]

@Shefali R. It's a tough situation with no easy answer. The most plausible way in getting the property in my opinion without letting the approval letter expire is to give consent to let them stay there for 3 months which has obvious risks. Without the sellers on board getting the deal done is going to be a nightmare or simply impossible. Rent backs are typically not okay when a property is short sold unless if a non profit purchases the property. You're basically allowing them more than adequate time to "relocate" from the home. Is there any wiggle room on when they will move? Can you negotiate them down to a month or 45 days?