Making an offer on a short sale property

[Tony Chiaramonte]

I recently found a potential deal though a realtor here in Philly. Owners were asking $115k, but I valued the property at closer to $100k. I contacted the realtor and she reached out the listing agent. Realtor responded that I should move on because the bank has only approved the $115k price, and anything lower would require approval, which could take 6-9 months. Even then, she said, the bank may counter. Short answer, she said unless I wanted it for $115k to move on. Is this all accurate? What's the bank going to do if no one offers $115?

Thanks