Short Sale Offer - Bank Approved Price

[Kyle Weckman]

Hi, 

I am looking at two short sales that both have "Bank approved" prices. I was wondering, does anyone have experience offering less and getting it approved? Or do banks hold firm at that approved number? I have no problem throwing out a low ball offer and it being rejected but I wanted to see if anyone else any luck with this scenario.  I am also guessing it depends on the bank... 

Thanks! 

[Wayne Brooks]

You can try of course.  Also, that "bank approved price" may no longer be good by the time you get into the process.  That price was likely based on a BPO done for a previous buyer under contract.  Most lenders order a new one after 60-90 days, you might put be looking at your offer being compared to new one, depending on how old the current one is.